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Saudi Kayan Petrochemical Co. announces signing a Memorandum of Understanding with Clariant International AG

12/20/2018

Element List

Explanation

Signing date of the memorandum
2018-12-19 Corresponding to 1440-04-12
Signed party
Clariant International AG
Memorandum Subject
Signing of a Memorandum of understanding (MoU) with Clariant International AG. The Memorandum sets out the main principles of cooperation between the two parties in evaluating the feasibility study for the establishment of a joint venture company owns a plant located within Saudi Kayan Petrochemical Company complex in Jubail Industrial City for the manufacturing Alkoxylates, with a production capacity 120 KTA, utilizing the materials produced by the Saudi Kayan.
Memorandum Duration
Two years from the signing date of the Memorandum of Understanding (MoU), ends in 19 Dec 2020.
Related Parties
The proposed Memorandum of Understanding is considered a memorandum with a related party as it entered into with Clariant International AG, an affiliate of Clariant AG, which Saudi Basic Industries Corporation (SABIC) holds 24.99%.
Financial Impact
N/A