Arkema, Watan Industrial plans starting organic peroxide production site Saudi Arabia

Arkema, Watan to build organic peroxide facility in Saudi Arabia

9:03 AM, 1st October 2013
Arkema, Watan Industrial new joint venture agreement
Pierre Chanoine, Vice President, Arkema.

COLOMBES, FRANCE: Arkema, the world’s second largest producer of organic peroxides, and Saudi investment company Watan Industrial Investment have signed an agreement for the construction of an organic peroxide production site on the Al Jubail platform, Saudi Arabia. The facility, requiring an investment of about $30 million, will be the very first organic peroxide plant in the Middle East region.

This investment will enable Arkema to bolster its leading position in organic peroxides, and illustrates its strategy to expand its High Performance Materials segment and strengthen its presence in fast-growing countries, where the Group aims to achieve 30 per cent of its sales by 2016. The Arkema – Watan Industrial Investment joint venture will be majority held by Arkema, with the latter overseeing the operational management and sales of the site. The plant’s startup is scheduled in the first months of 2015.

“Building on our existing extensive commercial presence with our customers in this high growth region, we are pleased today to be the first to invest in an organic peroxide plant in the Middle East. With this future plant, we will be able to offer genuine service to local petrochemical companies. This local production will release them from complex logistics operations requiring very low temperature transportation of supplies currently from Europe. Hence we will bring them the proximity and responsiveness they need to develop their business,” said Pierre Chanoine, Vice President, Arkema.

 

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