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Sat 6 Mar 2010 02:46 PM

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Saudi firm plans citric acid plant on Red sea coast

Production to mainly target domestic demand with a surplus going into exports.

A Saudi firm plans to set up a citric acid plant in the west of the Gulf Arab state, according to a statement published in the local press.

Production would start with more than 20,000 metric tonnes of citric acid, which is mainly used in soft drinks, from 2013 and would rise to 40,000 by 2016, the firm, called Saudi Bio-acids Co, said in a statement published in Saudi papers on Saturday.

Production would mainly target domestic demand with a surplus going into exports.

The plant would be based in Rabigh on the Red sea coast and would employ 2,000 people, the statement said.

To cover half of the expected costs the firm has asked for help from a Saudi development fund, Bio-acids Co said, without disclosing the value of the investment.

According to the firm's website, the Saudi Bio-acids Co comprises several unnamed Saudi investors.

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