Advanced Petrochemical to earn SAR 35 million annually on deal with ARAMCO

Advanced Petrochemical Co. expected to earn SAR 35 million in profit annually, subject to market price, from its short-term sales agreements with Saudi Aramco Total Refining and Petrochemicals (SATORP) for the supply of 80,000 tons of propylene a year, the company said in a statement to the Saudi bourse, Tadawul.

Advanced announced yesterday that it will start receiving  propylene  from SATORP on October 1, 2014, according to Argaam.