Saudi Basic Industries Corp’s (SABIC) announced on Monday that its 75 percent-owned subsidiary Jubail United Petrochemical Co. has begun initial startup activities at its ethylene glycol plant. 

The estimated annual production capacity at its plant is 700,000 metric tonnes of monoethylene glycol (MEG), the petrochemicals giant said in a statement on the Saudi stock exchange, Tadawul.

The financial impact will be reflected after the initial startup activities and the start of commercial operation, it added.

(Writing by Brinda Darasha; editing by Seban Scaria) 

brinda.darasha@refinitiv.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. 

© ZAWYA 2021