Sunday, May 12, 2013
(This article was first published on Saturday.)
RIYADH (Zawya Dow Jones)--A subsidiary of Saudi International Petrochemical Co. (2310.SA), or Sipchem, has started production at a plant manufacturing ethyl acetate and butyl acetate in Jubail City, Sipchem said Saturday.
The plant, owned by Sipchem Chemcals Co., has a capacity of 100,000 tons annually, Sipchem said in a statement on the website of the Saudi stock exchange.
Both compounds are used as solvents in industrial production.
Commercial production at the plant is expected to start in August, Sipchem said.
Sipchem share prices rose 0.49%, to 20.65 Saudi rials ($5.5) a share, on Wednesday, the most recent trading day on the Saudi market.
Write to Ellen Knickmeyer at ellen.knickmeyer@dowjones.com
Copyright (c) 2013 Dow Jones & Co.
(END) Dow Jones Newswires
12-05-13 0348GMT
