Tasnee Petro. and Basell sign agreement intending to build integrated PE complex in Saudi Arabia
The complex will include a gas cracker and two 400 KT polyethylene plants. One plant, based on Basell's latest generation Hostalen process, will produce high density PE; the second, based on Basell's Lupotech T technology, will produce low density PE. Scheduled to start up in 2008, the units will be the largest Hostalen and Lupotech T plants in existence.
The agreement reflects Basell's intention to take a 25% equity share in the project, while Tasnee Petrochemicals and other Saudi investors, including SIPCHEM and Sahara Petrochemical Company, will take the remaining equity. Project development will be led by Tasnee Petrochemicals.
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