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Evonik Industries, Tasnee and Sahara Sign "Heads of Agreement" on Joint Venture to Produce Superabsorbents in Jubail, Saudia Arabia
Evonik Industries AG, National Industrialization Company (Tasnee) and Sahara Petrochemicals are planning to set up a joint venture to produce super absorbent polymers. Their intention is to build a world-scale facility with capacity of 80,000 metric tons p.a. at Jubail in Saudi-Arabia. Start-up would be in the first quarter of 2013.
Dr. Klaus Engel, Chairman of the Executive Board of Evonik, and Dr. Moayyed I. Al-Qurtas, CEO of Tasnee, signed a corresponding "Heads of Agreement" in Riyadh on April 26. "This is an important step for the Evonik Group in the growing Middle East market and represents a significant expansion of our leading position in super absorbent polymers, " commented Dr. Engel.
SAMCO, a joint venture of Tasnee and Sahara (Saudi Acrylic Acid Company, SAAC) and Dow Chemicals will supply the acrylic acid required to produce super absorbent polymers from a neighbouring plant. Propylene, a key raw material for acrylic acid, will be sourced by SAMCO from a nearby plant operated by Tasnee and Sahara (Tasnee Sahara Olefins Company, TSOC) and Lyondell Basell.
The planned production facility will be embedded in integrated production structures, making it the first downstream project of its type in the Middle East region.
Date Posted: April 30, 2010
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