Saudi’s SABIC starts trial operations at new rubber plant with ExxonMobil
4/5/2016 12:00:00 AM
DUBAI (Reuters) -- Saudi Basic Industries Corp. (SABIC) said this week that it had started trial operations at a new rubber plant it has built as a joint venture with a unit of ExxonMobil.Trial operations had started at the carbon black and utilities unit of the Al-Jubail Petrochemical Co. (KEMYA) rubber plant, it said in the statement.
The financial impact of the facility, a joint venture between SABIC and Exxon Chemical Arabia, a subsidiary of ExxonMobil, would be reflected in SABIC's results from the second quarter of 2016 onwards, SABIC said.
The project, estimated to cost $3.4 billion, is expected to supply over 400,000 tpy of rubber, thermoplastic polymers and carbon black to serve emerging local and international markets in Asia and the Middle East.
(Reporting by Reem Shamseddine; Writing by Tom Arnold; Editing by David French)
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