Page 17 - DMEA Week 45 2021

DMEA NEWS IN BRIEF DMEA

activated by private sector investors.” annual capacity will reach 23 million tonnes.” with steel pipes.
The official noted: “With the development SHANA Arabian Pipes has been awarded and signed
of propulsion projects in the main chains of the deal on 9 November, according to a bourse
propylene, methanol, ethylene, benzene, urea filing on Wednesday.
and butadiene, 20 new types of petrochemical PIPELINES The contract duration is 12 months from
products will be produced domestically, and the date of signing the deal, while the financial
petrochemical imports will decline by 70%.” Arabian Pipes to supply impact of this transaction is expected to
Sayehban called one of the strategies for the reflect on Arabian Pipes’ income statements
development of the petrochemical industry Aramco during the period from the second quarter
the completion of the methanol chain, and (Q2) of 2022 until Q2-23.
added: “Now the country’s methanol capacity Arabian Pipes Company has signed a contract MUBASHER
is 12 million tonnes and with the launch of worth SAR 305 million with Saudi Arabian
active methanol projects by 1404 (2025), this Oil Company (Aramco) to supply the latter

Week 45 11•November•2021 www. NEWSBASE .com P17