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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
NatPet and A. Schulman Sign PP Compounding, Distribution Deals
7:39 AM MDT | June 15, 2012 | —Natasha Alperowicz
National Petrochemical Industrial Co. (NatPet; Yanbu, Saudi Arabia), a subsidiary of Alujain Group (Jeddah, Saudi Arabia), has concluded a joint venture agreement with A. Schulman to produce polypropylene (PP) compounds. The 50-50 jv will build a PP compounding plant near to NatPet’s PP manufacturing complex at Yanbu with capacity for 100,000 m.t./year of compounds. The plant will be built in two phases, the first of which will require an investment of SR266 million ($70.9 million). It will be funded 40% through equity and the rest through debt from sources...
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