Saudi private-sector firm Chemanol is to establish a joint venture firm with fellow Saudi entity GDI (Global Company for Downstream Industries) to produce specialty chemicals in the downstream hub of Jubail. An expansion of Chemanol’s methanol production capacity is already underway, and the facility will provide methanol feedstock to the new JV. Chemanol says the expansion will help it “become one of the largest manufacturers of specialty chemical products in the region in line with the Kingdom’s Vision 2030.”
The new company will be based in Jubail and be a 60:40 JV between Chemanol and GDI. The two firms signed a Partnership Agreement on 5 February to establish the entity, which will produce “Methyl Diethanolamine, Choline Chloride Dimethyl Disulfide, Dimethyl Sulfate, Chlorine Derivatives, Poly Alpha Olefins and Aromatic Solvents.” (CONTINUED - 679 WORDS)
