SABIC, ExxonMobil JV in U.S. preparing for initial startup

SABIC, ExxonMobil JV in U.S. preparing for initial startup
SABIC, ExxonMobil JV in U.S. preparing for initial startup   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<div> <p><span class="caps">DUBAI</span> – Saudi Basic Industries, the world’s fourth-biggest petrochemicals firm, said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup.</p> <p>The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tonnes, which will feed two polyethylene units and a monoethylene glycol unit, it said in a statement.</p> <p><span class="caps">SABIC</span> expects that this project will have a positive impact on its consolidated financial statements after the commercial operation begins.</p> <p>It supports <span class="caps">SABIC</span>’s strategy to diversify its feedstock sources and strength its petrochemical manufacturing presence in North America for a wide range of products, it said.</p> <p/> </div>