Saudi Arabia's Tasnee Sahara Olefins Company has signed a Riyals 600 million ($160 million) financing agreement with the Saudi Industrial Development Fund for the construction of two acrylic acid plants and a butyl acrylate plant in Jubail, the company said late Sunday.
One of the acrylic acid plants will have a nameplate capacity of 145,000 mt/year and the other 85,000 mt/year, while the butyl acrylate plant will have a capacity of 145,000 mt/year.
The plants will begin operations in the first quarter of 2013, TSOC stakeholders Tasnee and Sahara Petrochemicals Company said in separate statements posted on the Saudi stock exchange Tadawul.
