Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) has launched the commercial operation of the petrochemical joint venture (JV) project with Exxon Mobil in the US Gulf Coast.
As part of the project, an ethylene production unit will be established with an annual capacity of about 1.8 million tonnes, according to a recent bourse filing.
The unit will feed two polyethylene units with an annual capacity of around 1.3 million tonnes and a monoethylene glycol unit with an annual capacity of about 1.1 million tonnes.
The project's financial impact is expected to be registered in the company's financials from the first quarter (Q1) of 2022.
It is noteworthy to mention that in September 2021, the company started the commissioning activities and preparations for the initial startup of its joint venture project with ExxonMobil.
