The National Industrialization Co. (Tasnee) and Sahara Petrochemical Co. agreed a US$1.4 billion financing deal with Saudi banks to support three joint ventures: Saudi Acrylic Acid Co., Saudi Acrylic Monomers Co. and Saudi Polyolefins Co.
A new NCB Capital report looks at the impact of changing gas prices which could rise from US$0.75/mmbtu to US$1.5/mmbtu at the start of 2012 on the local petrochemical companies in Saudi Arabia.
Qurain Petrochemical Industries Co (QPIC) plans to develop a petrochemical plant, expected to cost more than $1 billion and located in Jubail, Saudis petrochemicals hub.
According to a study released by AlixPartners - the Gulf Cooperation Council (GCC) chemicals sector is strong but it faces numerous challenges and regional companies must adapt to new feedstock options and changing markets.
Drake & Scull Water and Power (DSWP), a wholly owned subsidiary of Drake & Scull International, secured a US$38.5mn Construction Contract of a Mining Grade Ammonium Nitrate Plant in the province of Ain Sukhna in Egypt.
