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Friday, 27 November 2009 16:09 UAE time

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Saudi king to launch Yansab's $4.9bn plant Monday

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 12 July 2009
PETROCHEMICAL PLANT: Saudi Yansab complex goes live after near 3-year delay. (Getty Images, for illustrative purposes only)
PETROCHEMICAL PLANT: Saudi Yansab complex goes live after near 3-year delay. (Getty Images, for illustrative purposes only)

Saudi Arabia's King Abdullah will inaugurate Yanbu National Petrochemicals Co's (Yansab) complex on Monday, state media reported, Sunday.

The complex, which has a production capacity of some 4 million tonnes per year, has been in the works for almost three years and its launch had been delayed from 2008 to the second quarter of 2009.

Yansab, which is 51 percent owned by Saudi Basic Industries Corp (SABIC), has cost 18.5 billion riyals ($4.93 billion) to build.

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The complex's main products will include ethylene, ethylene-glycol propylene and polyethylene.

Yansab's stock closed at 26.10 riyals, down 0.38 percent over the previous session. (Reuters)

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    27 Nov ' 09 at 14:51
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