Dubai (Platts)--19Dec2012/723 am EST/1223 GMT
Saudi Arabia's Methanol Chemicals Company or Chemanol is considering setting up several new specialty chemical projects over the next four to five years, company CEO Khalid Ibrahim Al Rabiah said Wednesday. Most will use methanol or propylene as feedstock, Al Rabiah said. "We have planned a basket full of projects. They will be formally announced depending on feedstock availability," Al Rabiah said. "We are trying to manufacture products that will be of use in construction and water [desalination] industries and are focusing primarily on the domestic Saudi Arabian market, but we will also export." Chemanol last Sunday said its board has approved construction of a new 60,000 mt/year sulfonated naphthalene formaldehyde plant at Jubail in Saudi Arabia. Article continues below...Sign up to Petrochemical Alert today. Petrochemical Alert gives you everything you need to stay informed and react to changing market conditions, including minute-to-minute updates on news and pricing for all your petrochemical needs. From news flashes to long-range analysis, and real-time deal reporting to end-of-day price assessments, Petrochemical Alert is consistently first to deliver breaking news that moves the world's petrochemicals markets. It's an indispensable tool for those making crucial decisions.
Saudi Arabia's Methanol Chemicals Company or Chemanol is considering setting up several new specialty chemical projects over the next four to five years, company CEO Khalid Ibrahim Al Rabiah said Wednesday. Most will use methanol or propylene as feedstock, Al Rabiah said. "We have planned a basket full of projects. They will be formally announced depending on feedstock availability," Al Rabiah said. "We are trying to manufacture products that will be of use in construction and water [desalination] industries and are focusing primarily on the domestic Saudi Arabian market, but we will also export." Chemanol last Sunday said its board has approved construction of a new 60,000 mt/year sulfonated naphthalene formaldehyde plant at Jubail in Saudi Arabia.
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Petrochemical Alert gives you everything you need to stay informed and react to changing market conditions, including minute-to-minute updates on news and pricing for all your petrochemical needs. From news flashes to long-range analysis, and real-time deal reporting to end-of-day price assessments, Petrochemical Alert is consistently first to deliver breaking news that moves the world's petrochemicals markets. It's an indispensable tool for those making crucial decisions.
Construction of the plant, estimated to cost Riyals 75 million ($20 million), will begin in 2013 with commercial operations to start in 2015, Chemanol said in a statement. The company already produces 60,000 mt/year of SNF at its Jubail complex, as well as other petrochemicals including 60,000 mt/year of dimethylformaldehyde, 231,000 mt/year of methanol and 300,000 mt/year of other formaldehyde products. Chemanol is listed on the Saudi stock exchange Tadawul. --Shashank Shekhar, shashank_shekhar@platts.com--Edited by Wendy Wells, wendy_wells@platts.com
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