Saudi Arabia's Methanol Chemicals Company or Chemanol is considering setting up several new specialty chemical projects over the next four to five years, company CEO Khalid Ibrahim Al Rabiah said Wednesday.
Most will use methanol or propylene as feedstock, Al Rabiah said.
"We have planned a basket full of projects. They will be formally announced depending on feedstock availability," Al Rabiah said.
"We are trying to manufacture products that will be of use in construction and water [desalination] industries and are focusing primarily on the domestic Saudi Arabian market, but we will also export."
Chemanol last Sunday said its board has approved construction of a new 60,000 mt/year sulfonated naphthalene formaldehyde plant at Jubail in Saudi Arabia.
Construction of the plant, estimated to cost Riyals 75 million ($20 million), will begin in 2013 with commercial operations to start in 2015, Chemanol said in a statement.
The company already produces 60,000 mt/year of SNF at its Jubail complex, as well as other petrochemicals including 60,000 mt/year of dimethylformaldehyde, 231,000 mt/year of methanol and 300,000 mt/year of other formaldehyde products. Chemanol is listed on the Saudi stock exchange Tadawul.
