Saudi Kayan exits plans to build UHMWPE plant in Jubail

08-Nov-13

Saudi Kayan has dropped plans to build an ultra-high molecular-weight polyethylene (UHMWPE) plant in Jubail, as per Al Khobar. In 2012, Kayan and Petrokemya, both affiliates of Saudi Basic Industries Corp. (SABIC), signed a memorandum of understanding to equally own and finance the project, located at Kayan’s petrochemicals complex. Kayan said in a statement on the Saudi bourse that preliminary results of an economic feasibility study were not in line with the company’s growth plans. It did not specify if the decision was taken jointly with Petrokemya.