DevCorp International has started construction of a huge petrochemical project, in Yanbu Indutrial City, which would produce 80,000 tons of linear alkaline benzene annually. The chemical is an important ingredient in the production of household cleaning agents. The project is expected to cost SR 618 million.
DevCorp has been successful in securing a loan of SR 219 million for the purpose from the Industrial Development Fund. The production of the linear alkaline benzene, after the plant is completed and comes on stream, would benefit a number of local chemical factories, in Yanbu Indutrial City. The engineering designs of the huge plant have been executed by UOB Inc. of USA, while the technology for the project is being provided by Tamil Nado Petroleum Products Co. of India.
The benzene plant would obtain raw material in the form of gas from Saudi Aramco's Yanbu Refinery. The company is poised to implement another project for the production of 140,000 tons of solefenate paraffin annually, which is used in dish-washing chemicals and as dissolvent. This project would cost about SR 400 million. The company has been able to secure another SR 206 million loan for it from the Industrial Development Fund.
© Saudi Economic Survey 2005
