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FINANCIAL NEWS
Saudi JV to create the world’s largest Butanol plant
27 Dec 2012
(MENAFN) Three Saudi companies have signed a USD517 million joint venture agreement to build the world’s largest Butanol plant, the Construction Week reported.
The deal was signed between the Saudi Kayan Petrochemical Company, Sadara Chemical Company and Saudi Acrylic Acid Company.
The new plant, located at Jubail Industrial City in Western province, will be operated by Saudi Arabia’s National Industrialization Company (Tasnee).
The plant, expected to be completed by the first quarter of 2015, would provide up to 200 direct and indirect job opportunities.
The three partners will have an equal share of the 330,000 tons of normal butanol and 11,000 tons of iso-butanol it will produce every year.
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