Al-Waha Petrochemical Company has signed the Shariah compliant Financing Facilities Agreement and all related financing documents with 6 regional banks. Al-Waha is a 25:75 joint venture between Basell and Sahara Petrochemical Company in Al-Jubail Industrial City in the Kingdom of Saudi Arabia. Engineering, procurement and construction (EPC) activities for the 450,000 tpa Spherizone polypropylene plant and a propane dehydrogenation unit began in January this year, with commercial production estimated in Q1-2009.
The Al-Waha joint venture is Basell's third major investment in Saudi Arabia. A first joint venture with Tasnee Petrochemicals for a polypropylene plant and a propane dehydrogenation unit commenced commercial operations in May 2004. Current capacity of 500,000 tpa will be expanded to 800,000 tpa by end 2008.
Basell's second Saudi joint venture Saudi Ethylene and Polyethylene Company, was established jointly with both Tasnee Petrochemicals and Sahara Petrochemical Company. The new company is currently constructing a cracker for the production of one million tpa ethylene and 285,000 tpa propylene; one 400,000 tpa HDPE plant using Basell's latest generation Hostalen ACP process, and one 400,000 tpa LDPE plant using Basell's Lupotech T technology. The start up of these facilities will be in Q4-2008.
17-Nov-06 
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