Saudi Basic Industries Corporation (SABIC) and ExxonMobil Chemical announced that work on their joint elastomers project in Jubail Industrial City posted on TADAWUL on 19/11/2008 has reached an advanced stage in Front-End Engineering and Design (FEED).
SABIC and ExxonMobil have selected Jubail Industrial City as the site for the new manufacturing units following a comprehensive evaluation of a number of variables, including integration opportunities with their existing petrochemical joint venture at KEMYA. With the move to Jubail, the project has reached the optimal industrial layout.
The project aims at establishing a domestic supply of more than 400 KTA of carbon black, rubber, thermoplastic specialty polymers (EPDM/TPE, TPO, Butyl, SBR/PBR) to serve emerging local and international markets. Furthermore, the project includes establishing a vocational training institute and product application development and support center aligned with Saudi Arabia's National Industrial Clusters Development Program to grow and diversify the Kingdom's manufacturing sector.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.