Sumitomo reveals new JV projects
Japanese firm Sumitomo Chemical and Rabigh Refining and Petrochemical Company revealed plans to construct new production assets in the Gulf, including plants for thermoplastic polyolefin (TPO), polymethyl methacrylate (PMMA), and low-density polyethylene/ethylene vinyl acetate (LDPE/EVA). The plants are expected to go on-stream beginning H1 2016.
Likewise, Sumitomo and Saudi Arabian Oil Company (Saudi Aramco) are also construcing nylon 6 resin at the site. The partners are investing a total of US$7 billion in the new facilities, which also include superabsorbent polymer (SAP) and petrochemicals such as polyols. The Petro Rabigh joint venture is already a major player in plastics supply in Asia and plants operating commercially since September 2009.
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