Further to the previous announcement, which was published in Tadawul on Dec 26, 2012 Sahara petrochemicals company announces that an affiliate company of Tasnee and Sahara Olefins Company and an affiliate of Saudi Acrylic Acid Company which is Saudi Butanol company (A company established between SADARA,
Saudi Kayan Petrochemicals & SAAC for the purpose of financing and ownership of the plant producing Butanol.) Has signed on friday 5th of July,
2013 a contract with DAELIM construction company, the Contract value is 1100 Million Saudi Ryial, the construction period will be from January, 2014 until May, 2015.
The design capacity of the Butanol Plant is 330,000 metric tons per annum of n-butanol and 11,000 metric tons per annum of iso-butanol, the expected experimental operation start-up will be in the second quarter of 2015 and is expected to last from three to six months.
The Saudi Butanol company will be located in Jubail Industrial City.The financial effect on the financial statement will be after the commercial start-up. Sahara owns 43.16% of SAAC and Owns 14.38 of Saudi Butanol Company.
Sahara will announce any development in this regard later on.
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