Chemanol reconsiders SNF plant, plans acquisitions of other petrochemical firms

15/02/2015 Argaam

 

Methanol Chemicals Co. (Chemanol) will launch a new feasibility study of its Sulphonated Naphthalene Formaldehyde (SNF) plant because of new market developments as the company reconsiders its expansion strategy, it said in a statement to Tadawul, Saudi Arabia's bourse. 

 

The new strategy will focus on exploring new acquisition opportunities in the field of specialty chemicals in Saudi to strengthen the company’s position, it added. 

 

In December of 2012, Chemanol’s board agreed to build a SAR 75 million SNF plant with an initial annual capacity of 60,000 tons to expand the production of its current factory, according to data available on Argaam.

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