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Saudi International Petrochemical Company (Sipchem) owned Polybutylene Terephthalate (PBT) plant yesterday began production. First of its kind in the Middle East, the total production capacity of the PBT plant is 63,000 mtpa. The fiscal impression of full commercial operations will be visible in the company’s financial results by 3Q2018. The PBT plant, located in Jubail Industrial City, will use butanediol as the feed material for the production of PBT.
Sipchem and Sahara Petrochemicals have confirmed that they are still negotiating potential merger conditions. The discussions regarding the structure of the merger are underway including the valuation of the two firms. Further, the companies will announce any material developments with respect to the merger as per the applicable laws and regulations.