Saudi Arabian General Investment Authority today signed five memoranda of understanding (MOUs), with a combined value of 7.5 billion Saudi riyals ($2 billion), with a number of major petrochemical companies at a ceremony in Riyadh in the presence of Saudi Deputy Minister of Industry Osama al-Zamil.
Agreements signed include a SAGIA and BASF deal to study the feasibility to build a petrochemicals plant at Jubail Industrial City; a deal with SNF to evaluate the establishment of a polyacrylamide plant; a deal with Mitsui & Co., for a 1-million metric tons/year ammonia plant at Jubail, in addition to building a new petrochemical plant and an agreement with Shell Overseas Services to build a new plant at Jubail Industrial City to produce value-added catalysts. The fifth MOU is with Shell and Advanced Metallurgical Group to build a residue upgrading catalyst manufacturing facility (see separate story).
Ibrahim al-Omar, governor of SAGIA, said, “Our country is undergoing a significant economic transformation. The petrochemicals sector provides exciting opportunities for international investors as we look to draw on the expertise and experience of the private sector in transforming the industry.”
By Natasha Alperowicz
Source: Chemical Week
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
