National Industrialization Co. (Tasnee) plans to consume its full share of output from its joint venture Saudi Butanol Co. (SaBuCo), the company’s chief executive Mutlaq Al-Morished told CNBC Arabia.
Commercial operations began on Tuesday at SaBuCo’s plant in Jubail, a $500 million joint venture with Sahara Petrochemicals and Saudi Kayan Petrochemical Co.
Tasnee is in the final stages of a restructuring plan, which includes layoffs and other cost-cutting measures, he added.
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