Riyadh-Mubasher: Saudi Basic Industries Corp. (SABIC) forecasted to complete three petrochemical projects in 2016, as well as a housing complex for employees in Riyadh.
The company's subsidiary Petrokemya established a plant for producing acrylonitrile butadiene styrene in Jubail Industrial City, and the production will likely start in the first quarter of 2016, according to the board's report for 2015.
The petrochemical producer is also establishing a new tanker for ethane in the UKTGCP project. SABIC aims to start the ethane cracking in 2016.
The project of Saudi Methacrylates Co. (SAMAC), a joint venture equally owned by Mitsubishi Rayon and SABIC, was awarded in June 2014, and 52% of which was completed at the end of 2015. The project is expected to be completed in the second quarter of 2017.
SABIC has completed nearly 67% of Riyadh residential complex, and the first phase will be finalized in Q4-16, according to the board's report.
