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Exxon, Sabic JV Petchem Plant to Cost $5 Bln | ASHARQ AL-AWSAT English Archive 2005 -2017
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DAMMAM, Saudi Arabia, (Reuters) – Exxon Mobil Chemical and Saudi Basic Industries Corp 2010.SE (SABIC) joint-venture synthetic rubber plant was expected to cost about $5 billion, a senior company executive said on Monday.

The project would have a combined production capacity of about 400,000 tonnes per year of carbon black, rubber and specialty polymers for both domestic and international sales.

“We are working on a five billion project for elastomers… it goes into the tyre industry which will contribute to the downstream industry that will eventually be developed…,” Marc Granier vice-president of Exxon Mobil Chemicals in Saudi Arabia told reporters at an industry conference.

The plants, which will be based at the Kemya complex in Jubail and the Yanpet complex in Yanbu, were expected to come online between 2013 and 2014, Granier said.