Methanol Chemicals Company (Chemanol) has signed a plot allocation agreement with Jubail and Yanbu Industrial Cities Services Company (JABEEN) to set up a more than 420 million Saudi riyal ($112 million) chemicals plant.
The company will establish and operate a choline chloride and methyl diethanolamine methane plant on the land plot in PlasChem Park Jubail (2), the company said in a statement to the Saudi stock exchange on Wednesday.
Chemanol aims to become one of the largest manufacturers of specialised petrochemical products in the region through the establishment of the project.
The Ministry of Energy approved the required feedstock allocation for manufacturing specialty petrochemical products in December 2023.
The new facility will produce methyl diethanolamine, choline chloride dimethyl disulfide and N-methyl pyrrolidone.
The targeted products will be used in several strategic industries in the Kingdom, such as oil and gas, pharmaceuticals, fertilisers, construction materials, fuel additives, gas treatment and carbon capture.
