Methanol Chemicals Co. (Chemanol), obtained on March 1, 2020, the Ministry of Energy’s approval for allocating the required feedstock to expand the methanol plant in order to increase its output by 100,000 tons.
The output increase will be used to establish other plants, including a dimethyl disulfide (DMDS) plant and a methyl diethanolamine (MDEA) factory, in-line with Saudi Vision 2030, the company said in a bourse filing.
The company expects the 2 plants to be operational by 2024 in accordance with its strategic expansion plans.
The plants are considered the first-of-their-kind in the Kingdom and the Gulf region, and their products rely on oil, gas, and other manufacturing industries, the statement said.
Chemanol will announce further details in conjunction with relevant regulations and instructions.
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