- Proposed capacity 80,000 metric tons p.a.
- Start-up planned for early 2013
- Integrated structures for efficient sourcing of raw materials
- Dr. Klaus Engel, Chairman of Evonik’s Executive Board: "This is an important step for us in the growing Middle East market."
Evonik Industries AG, National Industrialization Company (Tasnee) and Sahara Petrochemicals are planning to set up a joint venture to produce super absorbent polymers. Their intention is to build a state-of-the-art world-scale facility with capacity of 80,000 metric tons p.a. at Jubail in Saudi-Arabia. Start-up would be in the first quarter of 2013. Dr. Klaus Engel, Chairman of the Executive Board of Evonik, and Dr. Moayyed I. Al-Qurtas, CEO of Tasnee, signed a corresponding "Heads of Agreement" in Riyadh today. "This is an important step for the Evonik Group in the growing Middle East market and represents a significant expansion of our leading position in super absorbent polymers", commented Dr. Engel. Evonik is a world-leading producer of super absorbent polymers, a key basic material for the manufacture of diapers and feminine hygiene products.
The proposed joint venture for super absorbent polymers will benefit from advantageous access to raw materials: SAMCO, a joint venture of Tasnee and Sahara (Saudi Acrylic Acid Company, SAAC) and Dow Chemicals will supply the acrylic acid required to produce super absorbent polymers from a neighbouring plant. Propylene, a key raw material for acrylic acid, will be sourced by SAMCO from a nearby plant operated by Tasnee and Sahara (Tasnee Sahara Olefins Company, TSOC) and Lyondell Basell. The planned production facility will thus be embedded in integrated production structures, making it the first downstream project of its type in the Middle East region.
Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and reliability.
Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.