Saudi Kayan Petrochemical Co. announces signing a Memorandum of Understanding with Clariant International AG
12/20/2018
Element List
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Explanation
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Signing date of the memorandum
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2018-12-19 Corresponding to 1440-04-12
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Signed party
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Clariant International AG
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Memorandum Subject
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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.
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Memorandum Duration
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Two years from the signing date of the Memorandum of Understanding (MoU), ends in 19 Dec 2020. |
Related Parties
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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%.
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Financial Impact
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N/A |