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Saudi Chemical Holding Company announced on Monday that its subsidiary Saudi Chemical Company, in partnership with a local company, has received a gas allocation letter from the Ministry of Energy to set up a chemicals production facility.
The facility will produce 440,000 tonnes of nitric acid per year and 300,000 tonnes of ammonium nitrate per annum, the company said in a statement to the Saudi stock exchange.
The project will provide raw materials needed for several downstream industries in the domestic markets, including civil and defence explosives, missile, and rocket propellants, smelting salts used in producing solar panels and pharmaceutical industries.
Location and cost details weren’t disclosed.
(Writing by D Madhura; Editing by Anoop Menon)
