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Business
SABIC invests in Saudi firm ...
May 8, 2006
| A version of this story appeared in
Volume 84, Issue 19
Saudi Basic Industries Corp. is investing in Saudi Kayan Petrochemical Corp., a $3.2 billion chemical company being established in Al Jubail, Saudi Arabia. When the company begins operations in 2009, its output will include aminoethanols, dimethylformamide, choline chloride, dimethylethanolamine, ethoxylates, phenol, cumene, and polycarbonate, plus upstream chemicals such as ethylene, propylene, polypropylene, ethylene glycol, and 1-butene. Some of these products have never been produced in Saudi Arabia. SABIC will hold a 35% stake in the company; another 45% will be sold to the public.
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