Page 26 - Plastics News February 2017
P. 26
Company News
Saudi Aramco abandons Supreme Petrochem starts
plans to invest in Malaysian swing production line at
petrochemical project Nagothane plant
Saudi Aramco has shelved plans for a partnership with Supreme Petrochem Ltd, one of the leading
Malaysian state-oil firm Petroliam Nasional Berhad producers ofpolystyrene (PS) polymer in India, has
in a US$27 bln refining and petrochemical project in commissioned a swing production line at its Wangani
the southeast Asian country, as per sources in Reuters. (Nagothane, Maharashtra) plant that is capable to
According to reporst Aramco had been in talks with manufacture styrenemethyl methacrylate (SMMA) or
Petronas about a joint venture in the Refinery and
Petrochemical Integrated Development (RAPID) project
in the southern Malaysian state of Johor. Aramco and
Petronas officials did not respond for comments. "I believe polystyrene (PS). As result of this modification, which
the proposal was still in an initial discussion phase," said was carried out in one of the three PS lines at the
Sadad al-Husseini a former senior executive at Saudi Wangani plant, the company will be able to produce
Aramco and now an energy consultant. "In any case, 42,500 tonnes per annum of SMMA. “The trial runs for
considering the scale of the investment, China's growing producing styrene methyl methacrylate by modifying
regional exports of refined products, Singapore's existing one of the polystyrene lines at the plant in Maharashtra
refining capacity and the competition this project would into a swing line capable of producing either PS or SMMA
have created to Aramco's own JV refineries in Korea, have been completed.
China and Japan, its deferral was probably a very well
considered and prudent Aramco management decision at This modified line with a SMMA capacity of 42500
this time." Saudi Aramco IPO-ARMO.SE has shelved plans TPA is now ready for commercial production,” said
for a partnership with Malaysian state-oil firm Petroliam Supreme Petrochem in a BSE filing Polysty Inc, USA,
Nasional Berhad [PETR.UL] in a $27 billion refining and provided the technology for the modification, which
petrochemical project in the southeast Asian country. involved investment of about Rs 6 crore, of the PS
Aramco's move to suspend plans for the Malaysian venture line and production of SMMA. Styrene methyl
comes at a time when Petronas is struggling with the methacrylate is widely used for optical sheets and other
slump in oil prices. applications such as homeware, office accessories,toys
and medical devices.
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