National Industrialization Co.’s (Tasnee) affiliate, Saudi Acrylic Acid Co. (SAAC) signed on Feb. 26 an agreement with Saudi Basic Industries Corp. (SABIC) to supply it with butanol, Tasnee said in a statement to Argaam.
The company did not disclose the deal value.
Under the deal, the company will be provided with additional quantities of butanol - the feedstock for the production of butyl acrylate - which will help SAAC boost production to meet growing regional demand.
The company exports 76% of total production to various markets worldwide, while the remaining capacity is used to fulfill local and GCC markets demand.
The deal comes as part of Tasnee’s efforts in line with the Saudi Vision 2030 that aims to diversify national economy, boost production, enhance value added in the Kingdom’s manufacturing sector, and raise local content contribution to the industry.
Tasnee is the sole producer of butyl acrylate in the Middle East with an annual capacity of 160,000 tons of acrylic and butyl acrylate, the statement added.
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