SAUDI KAYAN
Decision to stop construction of UHMW-PE plant with Petrokemya
According to international news agency "Reuters", Saudi Kayan Petrochemical (Al Jubail / Saudi Arabia; www.saudikayan.com) has recently decided to drop plans to build a UHMW-PE (ultra-high molecular weight) plant at its homebase in Al-Jubail. Originally, the company had said it would build a 35,000 t/y line which would be ready for commissioning by the end of 2014.
In 2012, it signed a memorandum of understanding (MoU) for the project with Petrokemya, a subsidiary of Saudi giant Sabic (Riyadh; www.sabic.com), to form a 50:50 joint venture – see Plasteurope.com of 09.01.2013. In the meantime, an economic feasibility study performed for the JV has indicated that the project would not be in line with Kayan's growth strategy. No financial details were provided.
Approximately 35% of Saudi Kayan, founded in 2006, is owned by Sabic and another 25% belongs to Al Kayan Petrochemical, with the remaining 40% in the hands of private investors.
In 2012, it signed a memorandum of understanding (MoU) for the project with Petrokemya, a subsidiary of Saudi giant Sabic (Riyadh; www.sabic.com), to form a 50:50 joint venture – see Plasteurope.com of 09.01.2013. In the meantime, an economic feasibility study performed for the JV has indicated that the project would not be in line with Kayan's growth strategy. No financial details were provided.
Approximately 35% of Saudi Kayan, founded in 2006, is owned by Sabic and another 25% belongs to Al Kayan Petrochemical, with the remaining 40% in the hands of private investors.
13.11.2013 Plasteurope.com [226797-0]
Published on 13.11.2013
German version of this article...