Saudi Basic Industries Corporation (SABIC) has formed a polystyrene joint venture with Baser Petrokemya of Turkey. SABIC will hold 70 percent of the new joint venture, with Baser holding the remaining 30 percent, according to a report of the Corporation's web-site. The new joint venture will take over all of Baser's polystyrene assets in Turkey, including an Adana-based plant with a production capacity of 40,000 tons a year. The plant is valued at US$22 million. SABIC will undertake marketing for the new joint venture's entire product. It is worth mentioning that SABIC's wholly owned affiliate petrokemya produces polystyrene and other affiliate SADAF produces Styrene.
