Saudi Basic Industries Corporation (SABIC) and affiliates of ExxonMobil announced today they will construct a world-scale specialty Elastomers facility at the Al-Jubail Petrochemical Company (KEMYA) manufacturing joint venture. The facility will be integrated with the existing Al-Jubail complex and completion is anticipated in 2015. Both companies have approved the next stage of project development, the engineering, procurement and construction (EPC) phase. With a total investment of US $3.4 billion, which will be financed from shareholder and or third party debt, the facility will have the capacity to produce up to 400,000 tonnes per year of rubber including halo butyl, styrene butadiene, polybutadiene, and ethylene propylene diene monomer (EPDM) rubbers, thermoplastic specialty polymers, and carbon black to serve local markets, the Middle East and Asia. --MORE
