Wednesday, Jul 14, 2010
RIYADH (Zawya Dow Jones)--Saudi Arabia's Rabigh Refining and Petrochemicals Co. (2380.SA), or Petro Rabigh, said Wednesday it inked a deal with National Industrialization Co.(2060.SA) or Tasnee, and Saudi Advanced Industries Co. (2120.SA), or SAIC, to supply propylene oxide to their planned joint-venture polyether polyol project.
Rabigh will supply 100,000 metric tons of propylene oxide to the project, which will produce 120,000 metric tons of polyether polyol and will cost up to 400 million Saudi riyals ($106.7 million), the firm said in a statement posted on the Saudi bourse Web site.
Polyether polyol is the precursor of polyurethane, which is used various industries such as furniture, automotive as well as in manufacturing construction materials.
The project will be built in the Red Sea city of Rabigh, west of Saudi Arabia, and will start production in the fourth quarter of 2013.
-By Summer Said, Dow Jones Newswires; +966-546-842373;
summer.said@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
14-07-10 0716GMT
