Basic Chemical Industries Co. said in a bourse statement today that it will reconsider the feasibility of its Al Jubail-based xanthan gum factory, due to the sharp decline in oil prices. 
 
Xanthan, which will be produced in the factory, directly affects oil-well drilling, the statement added.
 
Moreover, the issue will be raised to the board of directors at the end of this year, when price levels become clearer.
 
In 2013, the Tadawul-listed company had signed a memorandum of understanding (MoU) with CP Kelco to construct and operate a xanthan gum facility in Al Jubail, Saudi Arabia. The plant was projected to produce between 5,000 and 10,000 million tons per year of xanthan.
 
Xanthan gum factory

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request