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FINANCIAL NEWS
Sabic affiliates join hands to set up UHMWPE plant
24 Dec 2012
(MENAFN) Saudi Kayan and Petrokemya have formed a joint venture to build an ultra-high molecular-weight polyethylene (UHMWPE) plant in Jubail, Reuters reported.
The two companies are affiliates of Saudi Basic Industries Corp (Sabic).
UHMWPE is used in industrial applications including batteries and industrial fibres.
Kayan said that the two partners will 50/50 own and finance the project, located at Kayan’s petrochemicals complex.
The plant, scheduled for completion in the second half of 2014, is expected to have an output capacity of 35,000 tonnes per year.
Kayan said in April that the plant would use ethylene from its olefins plant and in June, US firm Jacobs Engineering said it would conduct engineering and design work for the plant.
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