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FINANCIAL NEWS
Saudi Zamil, Huntsman start production at $288m JV
28 Feb 2010
(MENAFN) Saudi family-owned conglomerate Zamil Group has started production at its joint-venture plant with Huntsman Corporation, which will add 6.5 percent to global ethylene amines supply, SPA reported.
The $288 million plant stated at a production capacity of 27,215 tons per annum but it can be raised to 41,000 tons. The product will be marketed by Huntsman in Asia and Europe.
The 50-50 partners spent $288 million to build the plant owned by Arabian Amines Company.
It is worth noting that Ethylene amines are used in several applications including asphalt, fuel additives, bleaches, corrosion inhibitors and fabric softeners.
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