SABIC to boost petrochemical output

RIYADH, July 20, SPA – Saudi Basic Industries Corporation (Sabic)
said Sunday it would raise its petrochemicals output by about 12
million tons by the start of 2012.

“Petrochemical Prices are expected to improve within years not
within days,” Chairman Prince Saud Bin Thenayan Al-Saud told a press
conference.

The planned output increase will mainly come from a 3.2 million
tonnes joint venture with China’s Sinopec and – within Saudi Arabia –
from Yanbu National Petrochemical Co. and the expanded Asharq
petrochemical plant, Prince Saud said.

SABIC produced 35.4 million tons of chemicals, 7.9 million tons of
polymers and 1.3 million tons of innovative plastics last year.

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