Methanol Chemicals Co. (Chemanol) announced the issuance of the Ministry of Energy’s approval, on Nov. 30, to allocate the required feedstock for manufacturing specialty petrochemical products.
The products include methyl diethanolamine, choline chloride dimethyl disulfide and N-methyl pyrrolidone.
The company aims to become one of the region’s largest specialized petrochemical products manufacturer, it said in a statement to Tadawul.
All the targeted products will be the first of their kind in the region, and will be used in many vital and strategic industries in the Kingdom, such as oil and gas, pharmaceuticals, fertilizers, construction materials, fuel additives, gas treatment, carbon capture, paints and coatings which have a growing demand in both local and regional markets.
The financial impact of these projects will be determined later upon completion of all relevant studies. However, the company has established agreements with some technology providers and raw material suppliers.
Any updates or developments in this regard in due course of time, the company said.
Source : Argaam