Reuters news, Saudi Basic Industries Corporation (SABIC) said that its subsidiary Arabian IndustrialFibers (IbnRushd) has signed a capacity expansion agreement with Taiwan Zhongding Engineering and China Petrochemical Engineering Construction Corporation (SEI).
SABIC issued an e-mail statement on Tuesday saying that the agreement with Zhongding Engineering will double IbnRushd’s aromatics production capacity from 560,000 tons to 1.2 million tons per year, and terephthalic acid production capacity will more than double to 75 per year. Ten thousand tons. However, SABIC did not disclose the value of the agreement.
SABIC stated that the agreement with Sinopec Engineering Construction involves the construction of a new PET plant, which will increase its annual production capacity from 330,000 tons to 750,000 tons.
SABIC stated that the project duration is 24-27 months.
IbnRushd's factory in Yanbu, on the coast of the Red Sea, mainly produces aromatic compounds and purified terephthalic acid (PTA), which is mainly used to produce polyester fibers. SABIC holds a 47% stake in IbnRushd.
SABIC Chief Executive Mohammedal-Mady told Reuters in October that the company is restructuring and introducing new products.
SABIC issued an e-mail statement on Tuesday saying that the agreement with Zhongding Engineering will double IbnRushd’s aromatics production capacity from 560,000 tons to 1.2 million tons per year, and terephthalic acid production capacity will more than double to 75 per year. Ten thousand tons. However, SABIC did not disclose the value of the agreement.
SABIC stated that the agreement with Sinopec Engineering Construction involves the construction of a new PET plant, which will increase its annual production capacity from 330,000 tons to 750,000 tons.
SABIC stated that the project duration is 24-27 months.
IbnRushd's factory in Yanbu, on the coast of the Red Sea, mainly produces aromatic compounds and purified terephthalic acid (PTA), which is mainly used to produce polyester fibers. SABIC holds a 47% stake in IbnRushd.
SABIC Chief Executive Mohammedal-Mady told Reuters in October that the company is restructuring and introducing new products.