Advanced Petrochemical Company announced that Advanced Polyolefins Industry Company has signed a loan agreement with the Saudi Industrial Development Fund for 3 B riyals (USD266 MM), according to Hydrocarbonprocessing.
The loan is to finance the construction of propane dehydration (PDH) and polypropylene (PP) plants with the ability to manufacture 843,000 tpy of propylene and 800,000 tpy of PP in Jubail, Saudi Arabia.
As MRC wrote previously, in April, 2021, Advanced Petrochemical Co. announced that it had resumed operations at two plants in Jubail, Saudi Arabia after the completion of a scheduled turnaround. Thus, operations at the company's PP plant began on 28 March, 2021, whereas operations at its PDH unit restarted on 11 April, 202. Both plants were shut for repairs on 11 March, 2021. The maintenance works were implemented in line with the occupational safety and health standards, despite the COVID-19 outbreak.
We remind that SK Advanced started up a new PP plant in Ulsan, South Korea on 23 March, 2021, and managed to produce on-specification PP at this plant in the week ending 9 April, 2021.The PP unit is a joint venture between PolyMirae and SK Advanced, using the “Spheripol” process of LyondellBasell, and have an annual output of 400,000 tons/year.
According to MRC's ScanPlast report, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas.shipments of PP random copolymers decreased significantly.
MRC