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Saudi Advanced Petrochemical Company signs polypropylene sales agreement with US and Japan

 Last Update: 2022-08-26
 Source: Internet
 Author: User

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Saudi Arabia-based major polypropylene producer Advanced Petrochemicals said its subsidiary Advanced Global Investments (AGIC) has partnered with two U.
S.
groups, Vinmar International and Tricon Dry Chemical, as well as Japan’s Mitsubishi, according to Arab trade news on December 30.
The company signed an off-take agreement to sell polypropylene

Under the long-term agreement, AGIC will supply Vinmar and Tricon Dry Chemicals with 250,000 tonnes of polypropylene each year, while Mitsubishi will receive 120,000 tonnes of polypropylene, Advanced Petrochemicals said in its filing to Saudi Tadaour

The company said the entire polypropylene stockpile will be supplied from its Advanced Polyolefins Corporation (APOC) plant in Jubail Industrial City, which it established as a joint venture with South Korea's SK Gas & Petrochemicals

Once operational, the APOC plant will have an annual production capacity of 800,000 tonnes of polypropylene

AGIC said the agreements will be effective from the date of APOC's commercial operation until December 31, 2028

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