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04/04/2016 05:31 AST
Saudi Basic Industries Corporation (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 ExxonMobil.
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 ExxonMobil, 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 tonnes per year of rubber, thermoplastic polymers and carbon black to serve emerging local and international markets in Asia and the Middle East.
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Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
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