Alzamil & Chemtura Progress With New Metal Alkyls PlantSource: www.gulfoilandgas.com 12/8/2009, Location: Middle East
Al Zamil Group Holding Company and Chemtura Organometallics GmbH, a wholly owned German subsidiary of Chemtura Corporation (Pink Sheets: CEMJQ) of the United States, are making significant progress in implementing a joint venture to build a world-scale metal alkyls manufacturing facility in Jubail Industrial City, Saudi Arabia. With the front-end engineering and design already finalized, the next steps, including the financing and contracting the detailed engineering and construction of the joint venture facility, are being progressively pursued to comply with the requirements of the Saudi Arabia authorities.
The facility is planned to be operational in 2012 and is designed to satisfy growing regional demand for different organometallics that serve as specialty catalyst components for a variety of processes, including polyethylene and polypropylene.
The Chemtura-Al Zamil joint venture would license Chemtura Organometallics’ proprietary technology and serve as the sales and marketing arm for Chemtura Organometallics in Saudi Arabia and other Middle East countries. Chemtura Organometallics would be responsible for sales of the joint venture's aluminium alkyl products outside the Middle East and would provide technical service, product application knowledge and market development expertise.
Craig Rogerson, Chairman, President and Chief Executive Officer of Chemtura Corporation, said, “We are extremely pleased about the progress that we are making to satisfy the strategic need to have a regional supply platform and a local competence team for these critical catalyst components. We look forward to building further on our commitment to the Middle East through our excellent relationship with Al Zamil Group.”
Fahad Al-Zamil, President of Al Zamil Group Holding Company / Jubail Operations, said, “We are pleased with the steady progress being made on the Chemtura-Al Zamil joint venture that falls within our strategy of investing in higher value-added chemicals, especially those that have both a strategic market in Saudi Arabia and the region, and depend on locally produced chemicals.”
The Al Zamil Group and Chemtura have been successful partners since 2000 in an antioxidants manufacturing facility in Saudi Arabia that produces antioxidant stabilizers for the regional polyolefin industry. Chemtura recently announced it would further grow its global antioxidant business with an additional expansion of its capacity at this facility.
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