Saudi firms Advanced Petrochemicals and GDI have signed a heads of agreement for a six-month study into a proposed plant at Jubail Industrial City on the Gulf coast which would produce a range of specialty chemicals from pyrolisis gasoline (pygas) and pyrolisis oil (pyoil).

Advanced says the plant would have output capacity of 300,000 t/y and cost around $580mn, with finance split 70:30 debt to equity. The target for start-up of the plant is the first half of 2021. Output would comprise...