Saturday, 2 March 2024

Sabic, Exxon Mobile Joint Venture, in the US, on the Move

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The Saudi giant would like to announce the start of commissioning activities and preparations for initial start-up of the joint venture project with Exxon Mobil in the U.S. Gulf Coast.

The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tons, which will feed two polyethylene units and a monoethylene glycol unit.

SABIC expects that this project will have a positive impact on its consolidated financial statements. The financial impact will be after the commercial operation and project completion which will be announced accordingly.

The project supports SABIC’s global growth strategy, diversifying its feedstock sources and strengthening its petrochemical manufacturing.

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