Saudi Top signs MoU with Petro Rabigh to establish factory in Rabigh Complex for Plastic Technologies at amount of SR100 mln

Saudi Top for Trading Co. announced on Sunday a memorandum of understanding with the Rabigh Refining and Petrochemical Company (Petro Rabigh) to invest in establishing a factory on an area of 34,000 square meters for a period of 30 years to produce 50,000 tons annually of polymer compounds, rubber and waxes in Rabigh PlusTech Park.
Provided that the supply of scrap materials is polymer, rubber and industrial wax From Petro Rabigh.
It explained that the memorandum duration is 12 months from the date of the MOU. There are no related parties involved. The financial impact of this project will be determined later upon completion of all agreements related to this MOU.