Saudi Arabia's petrochemical exports climbed 16% year on year in the third quarter of 2010 to 5.89 million mt, attributed to strong demand from Asia and Europe, the Saudi Press Agency reported late Tuesday.
Citing a report by the Department of Statistics and Information, Saudi Arabia's exports in the third quarter were 9.6% higher from Q2, the report added.
The value of Saudi Arabia's petrochemical exports in Q3 also rose 32% to Riyals 9.59 billion ($2.56 billion) compared with a year earlier.
In total, Saudi Arabia's non-oil exports to Asia increased 13% and to the European Union 34% year on year.
Saudi Arabia plans to add five petrochemical complexes over the next five years and increase its exports accordingly, the report added.
One of the five new cracker complexes is the Saudi Kayan Petrochemical Company's steam cracker complex at Jubail Industrial City that is expected to come online in 2011.
The complex will house a steam cracker that can produce 1.48 million mt/year of ethylene, 550,000 mt/year of propylene, 109,000 mt/year of benzene, 680,000 mt/year of polyethylene, 350,000 mt/year of polypropylene, 535,000 mt/year of ethylene glycol, 325,000 mt/year of cumene, 150,000 mt/year of acetone and 240,000 mt/year of bisphenol-A.
Sabic holds a 35% stake in Al Kayan while the privately owned Al Kayan Petrochemical Company owns 20%. The remaining 45% is held by public investors.
--Michelle Ho
Citing a report by the Department of Statistics and Information, Saudi Arabia's exports in the third quarter were 9.6% higher from Q2, the report added.
The value of Saudi Arabia's petrochemical exports in Q3 also rose 32% to Riyals 9.59 billion ($2.56 billion) compared with a year earlier.
In total, Saudi Arabia's non-oil exports to Asia increased 13% and to the European Union 34% year on year.
Saudi Arabia plans to add five petrochemical complexes over the next five years and increase its exports accordingly, the report added.
One of the five new cracker complexes is the Saudi Kayan Petrochemical Company's steam cracker complex at Jubail Industrial City that is expected to come online in 2011.
The complex will house a steam cracker that can produce 1.48 million mt/year of ethylene, 550,000 mt/year of propylene, 109,000 mt/year of benzene, 680,000 mt/year of polyethylene, 350,000 mt/year of polypropylene, 535,000 mt/year of ethylene glycol, 325,000 mt/year of cumene, 150,000 mt/year of acetone and 240,000 mt/year of bisphenol-A.
Sabic holds a 35% stake in Al Kayan while the privately owned Al Kayan Petrochemical Company owns 20%. The remaining 45% is held by public investors.
--Michelle Ho
