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Celanese, SABIC, Duke to Build $400 Million Saudi Plant

April 05, 2010
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Chemical company Celanese Corp., Saudi Basic Industries Corp. and Duke Energy Corp. will invest a total of $400 million to jointly construct a 50,000-ton polyacetal production facility in Saudi Arabia, according to the Associated Press. Polyacetal is a plastic that is used to make mechanical and automotive parts such as car door locks and seat belt mechanisms. It also is used in various consumer, medical and electrical products. Engineering and construction of the facility is expected to begin later this year. The companies will build the plant through their National Methanol Co. (Ibn Sina) joint venture, which began in 1981 and will now run through 2032. Ibn Sina produces methanol, a key feedstock for POM production. Celanese and a Duke affiliate each own 25 percent of Ibn Sina and SABIC holds the remaining 50 percent stake. Once the polyacetal facility starts up, Celanese''s stake in Ibn Sina will rise to 32.5 percent. SABIC''s stake will remain unchanged.
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