Saudi Industrial sees nylon 6.6 project on stream before year-end

Saudi Industrial Investment Group (SIIG) said on Sunday that its nylon 6.6 polymer manufacturing facility should be on stream before the end of the year.

The plant is owned by Petrochemical Conversion Co. (PCC), which is an equally-owned joint venture of Arabian Chevron Phillips Petrochemical Company Ltd. and SIIG.

PCC’s project cost is estimated at SAR 2.9 billion, the bourse-listed company said in its board report for 2014.

The facility, which has a space of 510,000 square meters in Saudi’s Jubail Industrial City, produces Nylon 6.6, polyethylene pipes, and other conversion products.   

SIIG said it’s difficult to make strong profit margins from current projects due to high production capacity, fierce global competition, weak marketing plans, and lower consumption in the region.