2, SABIC is currently constructing two new plants which will increase the total production capacity of ethylene glycol (EG) by more than 2 million metric tons a year. Eastern Petrochemical Company (SHARQ), a 50:50 SABIC joint venture established in 1981 with a consortium of Japanese companies led by Mitsubishi Corporation, will add 2.9 million metric tons per year of ethylene, ethylene glycol and polyethylene by 2008 at its site in Al-Jubail. Construction works have also begun at the YANSAB Complex in Yanbu Industrial City (YANSAB) located in Saudi Arabia, to further increase SABIC's production capacity. The production capacity of YANSAB is 1.3 million metric tons per year of ethylene and 400,000 metric tons per year of propylene. Al-Mana said: “Asia is our fastest growing and most important market for SABIC as it accounts for over 40 percent of our exports. SABIC is embarking on an expansion plan for Asia including increasing our network facilities and services to better serve our valued customers. We also look forward to continuing our successful and strategic alliances with our Japanese partners.” SABIC established its Japan office in Tokyo in 1990 to better serve its Japanese customers and leverage its long established strategic partnership with the Japanese petrochemical industry. Another SABIC joint venture with a Japanese consortium led by Mitsubishi Gas Chemical, Saudi Methanol Company (AR-RAZI), which celebrated its 25th anniversary last year, is also expanding its production capacity. AR-RAZI was the first Saudi petrochemical plant to go on stream in 1983 1017 Local Time 0717 GMT
