Saudi Basic Industries Corporation (Sabic) with US-based Celanese Corporation, a global specialty materials company, to officially launch commercial operations at its 50,000 MT polyacetal plant in Jubail region of the kingdom.
A leading chemical conglomerate Sabic said the polyacetal facility which is located within the $387-million Ibn Sina Complex will utilise methanol as feedstock produced internally.
Ibn Sina is a joint venture between Sabic and CTE, a company jointly owned by subsidiaries of Celanese and US-based Duke Energy.
Celanese, Sabic and Duke Energy entered into the Ibn Sina joint venture in 1981. Subsidiaries of Celanese and Duke Energy each currently hold a 25 per cent ownership interest in the joint venture, with the remaining 50 per cent held by Sabic.
The approval was given following the successful completion of the performance runs for all polyacetal grades and achieving full production rates at the facility, said Sabic in a statement to Saudi bourse Tadawul.
Polyacetal is a differentiated, high value-added product mainly used in automobile and electronics industries in addition to mechanical and construction manufacturers and other industrial applications, it added.
The commercial operations began at the plant even as Sabic and Celanese simultaneously started expanding the existing operations of the complex.