Nama Chemicals Co.’s subsidiary Jubail Chemical Industries Co. (JANA) is planning to cut power consumption costs and the related carbon emissions by replacing the electrolysis system at its chlorine plant, Nama said in a bourse statement on Monday.
The new system is projected to reduce power consumption costs at JANA’s chlorine plant by nearly SAR 1.3 million annually.
The project was submitted by JANA and Japan-based Kanematsu Corporation. The ministry will finance 50 percent maximum of its cost under the joint Crediting Mechanism (JCM) that helps in reducing emissions.
JANA is 95 percent directly owned by Nama, while the remaining five percent stake is owned by Nama Industrial Investment, a subsidiary of Nama.
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