Saudi’s Advanced Petrochemical Extends Japan/Belgium Deals

Saudi polypropylene producer Advanced Petrochemical Company has signed off-take agreements with Japan’s Mitsubishi Corporation and Belgium’s Domo Investment Group, to be effective from 1 January 2019 for 10 years following the expiry of existing off-take contracts.

The agreements cover a total 250,000 tons/year of polypropylene: 150,000 t/y for Mitsubishi and 100,000 t/y for Domo.

Advanced Petrochemical has also agreed to supply Mitsubishi and Domo with an additional 50,000 t/y of polypropylene each for four years beginning 1 February 2015. Advanced said the additional 100,000 t/y of PP will be produced from outsourced propylene purchased from a local supplier. The additional propylene feedstock requirement will be around 110,000 t/y. (CONTINUED - 277 WORDS)