VOL. XL

No.24

16-June-1997

SAUDI ARABIA

US/Saudi Venture To Set Up Petrochemical Project

Great Lakes Chemical Corporation of the US and Hamid al-Zamil andBrothers of Saudi Arabia have agreed to set up in Jubail a joint venture polymerstabilizers plant at a cost of SR110mn ($29mn). Engineering work on the plant, which willproduce phenolic and phosphite anti-oxidants, is expected to start in September this yearwith start up scheduled in the first half of 1999.

A number of private sector companies...