Riyadh – Mubasher: Advanced Petrochemical Company announced on Tuesday that its wholly-owned subsidiary, Advanced Global Investment Company (AGIC), has signed long-term off-take agreements for the sale of Polypropylene.
The agreements were inked with Vinmar International LLC of USA (250,000 metric tonnes per annum), Tricon Dry Chemicals LLC of USA (250,000 metric tonnes per annum), and Mitsubishi Corporation of Japan (120,000 metric tonnes per annum), according to a bourse filing.
The Polypropylene to be sold will be manufactured by Advanced Polyolefins Company (APOC) (a Saudi closed joint-stock company under incorporation), a joint venture (JV) between AGIC and SK Gas Petrochemical Pte. Ltd., with a nameplate capacity to produce 800,000 metric tonnes per annum Polypropylene in Jubail Industrial City.
The deals will be effective from the date of commercial operations of APOC until 31 December 2028.
