OK
The Universal Selection Source:
Coatings Ingredients
Industry News

SABIC Ships its First Export Production of Acetone for Manufacture of Solvents & Paints

Published on 2011-02-21. Author : SpecialChem

Saudi Basic Industries Corporation (SABIC) announced that its affiliate, Saudi Kayan Petrochemical Company (SAUDI KAYAN), has shipped its first export production of Acetone, a part of the phenolic chain used to make Methyl Methacrylate (MMA), Polycarbonate (PC), solvents, adhesives and paints. The initial shipment of some 1,600 metric tons from the Port of Jubail, on Saudi Arabia's Gulf Coast, sets a record also as the first shipment of Acetone from the Middle East. SABIC noted that the shipment is bound for manufacturing customers in the Indian market, and that some of the Acetone produced at the plant will be also used by other units at SAUDI KAYAN to produce high-value PC.

SABIC's Performance Chemicals Strategic Business Unit (SBU) reports the rated capacity of the Acetone plant at SAUDI KAYAN at 140,000 metric tons per year. The giant new petrochemical complex at Jubail, will, when completed, have a combined capacity of more than 5.5 million metric tons per year of petrochemical products, some of which will feed further downstream business growth in Saudi Arabia.

SABIC Vice Chairman and CEO Mohamed Al-Mady noted that the company is diversifying its product portfolio in pursuit of long-term profitable and sustainable growth. Al-Mady also said, "The way we are introducing products will not only help SABIC, but also our customers sell products that are sustainable." He also noted that the Performance Chemicals SBU would be one of the main drivers of SABIC's diversification strategy as the company implements its 2020 vision of being the world's preferred leader in chemicals.

SABIC owns 35 percent of SAUDI KAYAN, with 20 percent owned by Al-Kayan Petrochemical Company, and 45 percent by public shareholders.

About SABIC

SABIC is the largest and most profitable non-oil company in the Middle East and one of the world's five largest petrochemicals manufacturers. It is a public company based in Riyadh: the Saudi Arabian government owns 70% of its shares, and the remaining 30% are held by private investors in Saudi Arabia and other countries of the Gulf Cooperation Council.

Source: SABIC


Channel Alerts

Receive weekly digests on hot topics

Back to Top