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SABIC, ExxonMobil JV in U.S. preparing for initial startup By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO. The Exxon Mobil Corporation logo is displayed on a monitor at the New York Stock Exchange floor, New York. REUTERS/Lucas Jackson/File Photo

DUBAI (Reuters) – Saudi Basic Industries, the world’s fourth-biggest petrochemicals firm, said on Sunday its joint venture project with ExxonMobil (NYSE:) in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup.

According to a statement, the project involves the construction of an ethylene manufacturing unit that can produce approximately 1.8m tonnes annually. It will supply two polyethylene units with monoethylene glycol and one of their polyethylene units.

SABIC believes that the project will make a significant impact on its consolidated financial reports once commercial operation is complete.

According to it, SABIC supports its strategy of diversifying its feedstocks and strengthening its North American petrochemical manufacturing presence for wide-ranging products.

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