CTCI to build two petchem plants for Sabic, Mitsubishi JV

June 29, 2014 2:41 am

A joint venture of Saudi Basic Industries Corp (Sabic) and Mitsubishi Rayon has said it has awarded Taiwan’s CTCI Corp a contract to build two plants in the east of the kingdom worth SR4.5bn ($1.2bn), Reuters has reported. One of the plants at Jubail Industrial City will produce 250,000 metric tonnes of Methyl Methacrylate Monomer (MMA) annually, while the other will produce 40,000 metric tonnes of Poly Methyl Methacrylate (PMMA) a year. Construction has begun and should be completed in the first quarter of 2017, with commercial operations beginning later in that year, the two firms said.