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Sun 12 Jul 2009 07:48 PM

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

Production capacity of about 4m tonnes p.a. comes after a 3-year delay.

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.

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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