SAHARA Petrochemical Company announces that one of the affiliates of Tasnee' and SAHARA for olefins, the Saudi Acrylic acid Co., Ltd., has signed on Monday 12 Jumada, 1431 AH, (4 April 26, 2010) the Memorandum of the basics of the partnership agreement with the   German company (Evonik) in order to set up a factory to produce eighty thousand tons (80.000) per year of super absorbent polymers in Jubail Industrial City. It should be noted that Saudi Acrylic acid Co., Ltd. has already signed a joint venture project agreement with the American company (Dow Chemicals) to establish a factory for the production of acrylic acid, acrylates. It should be noted that these factories are the first of their kind in the region. The company will benefit from the propylene material produced by the giant Ethylene Plant owned by Tasnee' and SAHARA company for olefins and its partner Lyondell Basel company.

 It is worth mentioning that SAHARA Petrochemical Company owns 43.125% in Saudi Limited Company for acrylic acid.

The German company (Evonik) is considered as one of the leading global companies specializing in the field of super absorbent polymers, while the U.S. Dow is a leading manufacturer of acrylic acid and acrylates.

 Super absorbent polymers are used as feedstock for the manufacturing  of sanitary napkins and diapers, while acrylic acid and acrylates materials are used in diverse applications, such as  dyes ,resins, as well as in  the  manufacturing of multiple industrial uses.  It is expected that production of super absorbent polymers will start in the first quarter of 2013 with initial cost of  (1000)  million SR, and it  will provide about 100 job opportunities. This number of jobs is subject to increase as a result of the project gradual expansion.

 It should be noted that any details or new development concerning this project will be announced later.

With complements of
Public Relations Department.