SABIC, ExxonMobil JV in U.S. preparing for initial startup

Dubai, September 19 (BNA) The Saudi Basic Industries Corporation, the fourth largest petrochemical company in the world, said today, Sunday, that its joint venture with ExxonMobil in the US Gulf Coast has begun operating activities and preparing for the initial start-up.

It added in a statement that the project includes the establishment of an ethylene production unit with an annual capacity of about 1.8 million tons, which will feed two units of polyethylene and a unit of monoethylene glycol.

(SABIC) expects this project to have a positive impact on its consolidated financial statements after the start of commercial operation, according to Reuters.

She said she supports SABIC’s strategy to diversify its feedstock sources and strengthen its presence in the North American petrochemical manufacturing of a wide range of products.

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