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Saudi Advanced Petrochemical Company and 3
U.
S.
and Japanese companies signed polypropylene sales agreements
According to recent foreign media news, Saudi Arabia's advanced petrochemical company said that its subsidiary Advanced Global Investment Corporation (AGIC) has signed offtake agreements
for the sale of polypropylene with two American groups, Vinmar International and Tricon Dry Chemical, and Japan's Mitsubishi Corporation.
Under the long-term agreement, AGIC will supply 250,000 tons of polypropylene each year to Vinmar and Tricon Dry Chemicals, while Mitsubishi will receive 120,000 tons of polypropylene
.
The company said its entire polypropylene stock will be supplied by its Advanced Polyolefin Company (APOC) plant in Jubail Industrial City, a joint venture with
South Korea's SK Gas and Petrochemical Company.
Once operational, the APOC plant will have an annual capacity
of 800,000 tons of polypropylene.
AGIC said the agreements will take effect from the date of commercial operation of the APOC until December 31, 2028
.
