A three-way shareholders agreement to establish the Saudi Butanol Company, which will produce butanol to support the continued growth of the paints and coatings industry in Saudi Arabia, has been signed by the Saudi Kayan Petrochemical Company (SAUDI KAYAN), a manufacturing affiliate of the Saudi Basic Industries Corporation (SABIC), Sadara Chemical Company (Sadara), a joint venture developed by Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow), and Saudi Acrylic Acid Company (SAAC), an affiliate of National Industrialization Company (Tasnee) and Sahara Petrochemicals Company. This will be the first ever butanol plant in the Middle East and the largest in the world. To be located at Tasnee Petrochemicals Complex in Jubail Industrial City and operated by Tasnee, the new plant is scheduled to go on-stream in the first quarter of 2015. It will open new job opportunities of around 200 direct and indirect positions for Saudi citizens in strong support of the Kingdom's efforts to create meaningful jobs for nationals, according to a latest press release of SABIC. --MORE
