Sadara subleases land to Dow Specialties to build plant

31/05/2015 Argaam

Sadara Basic Services Co. said in a bourse statement on Sunday that its parent company, Sadara Chemical Co. (Sadara) has signed a contract to sublease a 43,000 square meter land plot to Dow Specialties Limited, which will construct, own, and operate a 350,000 units-per-year reverse osmosis membrane plant.

 

Under the terms, Dow Specialties will reimburse Sadara for approximately SAR 191,000 in annual rental fees that will be due to the Royal Commission for Jubail and Yanbu (RCJY).

 

The subleased land represents less than one percent of the Sadara chemicals complex site located at Jubail Industrial City II in the Eastern Province of Saudi Arabia.

 

The agreement is not expected to result in any additional costs, the company added.

 

Sadara Chemical Co. is a joint venture between Saudi Aramco and Dow Chemical.

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