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Asahi Kasei, SABIC to Build SA Acrylonitrile Plant

Source: Reuters 9/10/2009, Location: Middle East

Japanese synthetic fibre maker Asahi Kasei Corp said that it was considering building a plant in Saudi Arabia with other firms including Saudi Basic Industries Corp 2010.SE (SABIC) to make products used in resin and acrylic fibre.

Asahi Kasei has been looking for an opportunity to take advantage of its technology, and if the formal decision were made,

It would be its first contract in Saudi Arabia, a company spokesman said. The plant would use propylene and propane gas as feedstock to produce acrylonitrile, he said. Saudi Basic Industries Corp 2010.SE (SABIC) last month signed a letter of intent with Japan's Mitsubishi Rayon (3404.T) to set up a methyl joint venture at an estimated cost of $1 billion.

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