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Saudi Arabia to build world’s biggest butanol plant at SR1.94b
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sandy
Dec 27, 2012, 7:28:30 AM12/27/12
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A three-way shareholders agreement to establish the Saudi Butanol Company, which will produce butanol to support the continued growth of the paints and coatings industry in Saudi Arabia, has been signed by the Saudi Kayan Petrochemical Company (Saudi Kayan), a manufacturing affiliate of the Saudi Basic Industries Corporation (SABIC), Sadara Chemical Company (Sadara), a joint venture developed by Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow), and Saudi Acrylic Acid Company (SAAC), an affiliate of National Industrialization Company (Tasnee) and Sahara Petrochemicals Company.
This will be the first ever butanol plant in the Middle East and the largest in the world, SABIC said in a statement.
The agreement was signed Wednesday by Mutlaq Al-Morished, Saudi Kayan Chairman and SABIC Corporate Finance Executive Vice President; Ziad Al-Labban, Sadara Chief Executive Officer; and Dr. Moayyed Al-Qurtas, SAAC Chairman and Tasnee Vice Chairman and CEO.
Under the agreement, the three partners will have equal stake in the production quantities for downstream use or for sales in the local and overseas markets. The design capacity of the plant, which is scheduled to go on-stream in 2015, is 330,000 metric tons per annum of n-butanol and 11,000 metric tons per annum of iso-butanol. SABIC will be marketing the Saudi Kayan share of the butanol plant along with the excess material of SAAC. The estimated total cost of the project is SR1.94 billion.
This will be the first ever butanol plant in the Middle East and the largest in the world, SABIC said in a statement.
The agreement was signed Wednesday by Mutlaq Al-Morished, Saudi Kayan Chairman and SABIC Corporate Finance Executive Vice President; Ziad Al-Labban, Sadara Chief Executive Officer; and Dr. Moayyed Al-Qurtas, SAAC Chairman and Tasnee Vice Chairman and CEO.
Under the agreement, the three partners will have equal stake in the production quantities for downstream use or for sales in the local and overseas markets. The design capacity of the plant, which is scheduled to go on-stream in 2015, is 330,000 metric tons per annum of n-butanol and 11,000 metric tons per annum of iso-butanol. SABIC will be marketing the Saudi Kayan share of the butanol plant along with the excess material of SAAC. The estimated total cost of the project is SR1.94 billion.
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