Advanced Agrees with SATORP to Increase Propylene to 12000 Metric Tons Annually

Advanced Petrochemicals (Advanced) announced on Wednesday that it signed an amendment to the agreement with SATORP to increase the amount of propylene from 100,000 metric tons per year to 120,000 metric tons per year, increasing or decreasing by 10%, according to which this agreement was extended for another period.

Both parties to extend the duration of the supply of Propylene for a further term from December 1, 2021 to December 31, 2025..

This comes with reference to earlier announcements of Advanced Petrochemical Company (Advanced) dated June 9, 2012, August 4, 2013 and December 19, 2017 regarding the agreement for the supply of 100,000 metric tons per year of Polymer Grade Propylene (intermediate product) from Saudi Aramco Total Refining and Petrochemical Company (SATORP).