SABIC starts commercial ops at polyacetal plant

Saudi Basic Industries Corp.’s (SABIC) on Tuesday started commercial operations at its polyacetal plant in Ibn Sina complex.

The related financial impact is likely to show on the company’s Q1 2018 figures, the company said in a bourse statement.

The new project, which operates with a capacity of 50,000 metric tons, uses methanol feedstock produced in Ibn Sina, the statement added.

The giant petrochemical producer had earlier started construction of the plant in April 2014 to expand operations of Ibn Sina joint venture.

In June 2017, SABIC and US-based Celanese Corporation announced that the facility is in the testing phase in preparation for commercial production expected in the third quarter of 2017.

Ibn Sina, is 50 percent owned by SABIC, while Celanese and an affiliate of Duke Energy Corp., each hold a 25 percent stake.