Most popular basic industries in Celanese and Saud

Celanese and SABIC, the world's leading chemical companies, jointly announced today that their joint venture, the national methanol company (ibnsina), will build a 50000 ton copolyformaldehyde (POM) production plant in Saudi Arabia. This investment will be conducive to the accelerated development of Sri Lanka's high-performance engineering materials business in the future, especially its tecona engineering polymer business, which provides innovative solutions for POM customers, attracted by the "plastic restriction order" and relevant policies; This investment is also very beneficial to SABIC, because it can support the development of the company's regional business by conducting experiments again. The construction and construction of the production facility, originally made of pc/abs polymer, is expected to start later this year

the construction of this production facility is part of the expansion of ibnsina joint venture, and all expansion projects will continue until 2032. Ibnsina produces methanol (an important raw material for manufacturing co formaldehyde) and methyl tertiary butyl ether (MTBE). Through ibnsina, Celanese has strengthened its raw material and energy advantages

Celanese, SABIC and Duke energy established a joint venture ibnsina in 1981. Celanese and a subsidiary of Duke energy each own 25% of the equity of the joint venture, while SABIC owns the remaining 50% of the equity of injection molding and extrusion molding. After the successful completion and start-up of the copolyformaldehyde production plant, the shareholding ratio of Celanese will be increased from the current 25% to 32.5%, which will bring further benefits to Celanese. The shareholding ratio of SABIC will remain unchanged. In the past three years, the joint venture has provided Celanese with about $238million in dividend income

the total investment of the project is expected to be about US $400million

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