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Article: SABIC, ExxonMobil Chemical sign preliminary agreement for synthetic rubber JV.
- Article from:
- ADP News Middle East & Africa
- Article date:
- November 19, 2008
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(ADP News) - Nov 19, 2008 - Saudi Arabia's industrial giant Saudi Basic Industries Corp (SABIC) (SAU:2010) signed yesterday a preliminary agreement with ExxonMobil Chemical to set up a synthetic rubber joint venture in Saudi Arabia, according to a statement to the Saudi Stock Exchange.
The project's cost could reach several billion dollars, the statement read without providing any exact figures. The preliminary agreement stipulates the project's range, technology and equipment, markets and raw materials.
The new elastomers project, expected to have a production capacity of 400,000 tonnes, will be located at the production complexes of Kemya (Al-Jubail ...