Saudi Basic Industries Corp (SABIC) said on Sunday that it had started trial operations at a new rubber plant it has built as a joint venture with a unit of Exxon Mobil.
Trial operations had started at the carbon black and utilities unit of the Al-Jubail Petrochemical Company (KEMYA) rubber plant, it said in the statement.
The financial impact of the facility, a joint venture between SABIC and Exxon Chemical Arabia, a subsidiary of Exxon Mobil, would be reflected in SABIC’s results from the second quarter of 2016 onwards, SABIC said.
The project, estimated to cost $3.4 billion, is expected to supply over 400,000 metric tonnes per year of rubber, thermoplastic polymers and carbon black to serve emerging local and international markets in Asia and the Middle East. (Reporting By Reem Shamseddine; Writing by Tom Arnold; Editing by David French)
