Zamil Group and Huntsman Corporation announced today that their joint venture, Arabian Amines Company, has achieved three significant milestones.
The venture, which plans to construct a world scale 27,000MT/yr ethyleneamines plant in Jubail, Saudi Arabia, has been formally approved by the boards of both Zamil Group and Huntsman Corporation and the Saudi Industrial Development Fund has approved funding this strategic project, and the company has selected Hyundai Engineering Co. Ltd and Hanwha Engineering and Construction Corporation as the Engineering, Procurement and Construction (EPC) contractors for this project.
The planned facility will utilize proprietary ethylene amines process technology provided by Huntsman. The plant is scheduled to break ground in early 2008 and start up is forecast for January 2010. Funding for the new project includes a loan from the Saudi Industrial Development Fund.
Huntsman will license its technology to the joint venture for use in the plant and will also serve as the exclusive sales and marketing agent for the venture’s output, much of which will be sold in Asia.
Eng. Abdul Aziz Al-Zamil, Chairman of industrial board of Zamil Group, and Mr. Peter R. Huntsman, President and CEO of Huntsman Corporation, meeting together while attending the Gulf Petrochemicals and Chemicals Association forum in Dubai, UAE, both expressed their satisfaction in the project’s advancement and their confidence in this strategic investment for both companies.
