VOL. XLI

No. 29

20-July-1998

SAUDI ARABIA

NIC Obtains License For Propylene Project

The Saudi Ministry of Industry and Electricity has recently issued a license to theNational Industrialization Company (NIC) to set up a 400,000 ton/year propylene project ata cost of SR1,125mn ($300mn). NIC said in a statement that it was negotiating withJapanese and European partners on the project and that Saudi Aramco has agreed to supplypropane feedstock for the project. When the project was first unveiled in...