Advanced subsidiary gets Ministry of Energy’s feedstock nod to set up petchem complex in Jubail

Advanced Petrochemical Co.’s subsidiary, Advanced Global Investment Co. (AGIC), received the Ministry of Energy’s approval on March 9, 2021, for allocating the required quantities of feedstock to set up a petrochemical complex project in Jubail Industrial City.

The petrochemical complex will use cracking technology to produce 1.15 million tons per year of ethylene, 850,000 tons per year of propylene and 400,000 tons per year of aromatics and fuels and their derivatives, the company said in bourse filing today, March 10, 2021.

According to the allocation letter, the project will be set up in Jubail Industrial City, Jubail (2), and the start-up for all project units will be in the fourth quarter of 2025.

The company will select the leading and most efficient energy and feedstock consumption technologies to produce ethylene and propylene and their derivatives.

Any new development related to this event will be announced in due course.