Saudi Kayan Petrochemical Co. announces signing a Memorandum of Understanding with Clariant International AG
|Signing date of the memorandum
||2018-12-19 Corresponding to 1440-04-12
||Clariant International AG
||Signing of a Memorandum of understanding (MoU) with Clariant International AG. The Memorandum sets out the main principles of cooperation between the two parties in evaluating the feasibility study for the establishment of a joint venture company owns a plant located within Saudi Kayan Petrochemical Company complex in Jubail Industrial City for the manufacturing Alkoxylates, with a production capacity 120 KTA, utilizing the materials produced by the Saudi Kayan.
||Two years from the signing date of the Memorandum of Understanding (MoU), ends in 19 Dec 2020.|
||The proposed Memorandum of Understanding is considered a memorandum with a related party as it entered into with Clariant International AG, an affiliate of Clariant AG, which Saudi Basic Industries Corporation (SABIC) holds 24.99%.