May 15 2011
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SABIC and ExxonMobil Chemical award contracts, sign technology agreements for proposed new elastomers project
-Technology selected and license agreements signed
-Educational partner selected for vocational training center in Yanbu
FEED contracts were awarded to Jacobs Engineering Inc. and Mitsui Engineering & Shipbuilding for process units and to Fluor Transworld Services Inc. for associated support facilities.
"This elastomers project will be the basis for the creation of a world-class rubber value chain in Saudi Arabia and a valuable extension of our offering of products and services to our customers in key markets," said Koos van Haasteren, SABIC executive vice president, Performance Chemicals.
The project is expected to establish a domestic supply of more than 400,000 metric tons of rubber[butyl, styrene butadiene rubber (SBR), butadiene rubber
and EPDM], thermoplastic specialty polymers and carbon black to serve emerging local and international markets in Asia and the Middle East. The project also includes the establishment of a vocational training center and product application development and support center, aligned with Saudi Arabia's National Industrial Clusters Development Program to grow and diversify the manufacturing sector in Saudi Arabia.
The University of Akron Research Foundation was selected to design, train and support the vocational training center, The High Institute for Elastomer Industries* , in Yanbu, Saudi Arabia. The training center will utilize the University's expertise in polymer science and education to provide elastomers technology vocational training for workers to support a planned downstream elastomers conversion industry in Saudi Arabia.
Additionally, a separate product application development and support center will be part of the new SABIC facilities at the Riyadh Techno Valley research complex at King Saud University.
The final decision to implement the elastomers project requires the approval of KEMYA 's Board of Directors.
Saudi Basic Industries Corporation ( SABIC ) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
SABIC recorded a net profit of SR 21 billion (US$ 5.6 billion) in 2010. Sales revenues for 2010 totaled SR 152 billion (US$ 40.5 billion). Total assets stood at SR 317 billion (US$ 84.5 billion) at the end of 2010.
SABIC 's businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 18 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, India and China. The company operates in more than 40 countries across the world with 33,000 employees worldwide.
SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific. SABIC 's overall production has increased from 35 million metric tons in 2001 to 66 million metric tons in 2010.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.
About ExxonMobil Chemical
ExxonMobil Chemical is one of the world's premier petrochemical companies with manufacturing, technology, and marketing operations around the world. The company delivers a broad portfolio of products and solutions efficiently and responsibly, with a commitment to create outstanding customer and shareholder value. ExxonMobil Chemical endorses the principles of sustainable development, including the need to balance economic growth, social development and environmental considerations. To learn more, visit www.exxonmobilchemical.com.
Additional Notes to Editors:
* ExxonMobil refers collectively to some or all of the companies affiliated with Exxon Mobil Corporation which have chemical manufacturing and/or marketing operations around the world.
* The High Institute for Elastomer Industries (HIEI) will be part of the Technology Vocational Training Corporation (TVTC) in Saudi Arabia. HIEI has been established to provide vocational training to support a planned elastomers conversion industry in the Kingdom.
For more information, please contact:
Samir A. Al-Abdrabbuh
Vice President, Corporate Communications
© Press Release 2011
© Copyright Zawya. All Rights Reserved.
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