Saudi Kayan Petrochemical Co. signed a memorandum of understanding (MoU) with Clariant International to evaluate a feasibility study for the establishment of a joint venture company, the firm said in a bourse statement on Thursday.

 

The company will be located inside the Saudi Kayan Petrochemical Co. complex in Jubail Industrial City and will manufacture Alkoxylates, utilizing the materials produced by Saudi Kayan, the statement said.

 

The duration of the MoU is two years from the date of signature, it further added.

 

Clariant International is an affiliate of Clariant AG, which is 24.99 percent owned by Saudi Basic Industries Corp (SABIC).

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