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Saudi- natpet, us firm ink deal for polypropylene joint venture

Saudi- natpet, us firm ink deal for polypropylene joint venture Source: www.ccfgroup.com
Date: 15-06-2012
Visits: 222
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The National Petrochemical Industrial Co. (NATPET) has signed a deal with a US company for a 50-50 joint venture to produce polypropylene (PP) products, the Saudi Press Agency reported.

The new plant, to be located near NATPET facilities in Yanbu industrial city, will produce 100,000 tons of PP products per year which is to be split into two phases, according to the SPA.

The first phase of the project will cost SR 266 million, 40 percent to be funded from NATPET sources.

Saudi Industrial Development Fund (SIDF) and other local banks will finance next phase.
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