Huntsman agrees chemical venture with Saudi partner
Wed Dec 12, 2007 4:33am EST
DUBAI, Dec 12 (Reuters) - Huntsman Corp agreed to build a $280 million chemical plant with Saudi Arabia's al-Zamil Group, the chief executive officer of al-Zamil said on Wednesday.
The plant would produce 27,000 tonnes of ethyleneamines, Abdulaziz al-Zamil told Reuters on the sidelines of a conference in Dubai. A statement from Zamil and U.S.-based Huntsman did not give the value of plant, which will be a 50-50 joint venture.
They awarded Hyundai Engineering and Construction Co and a partner a $200 million contract to start work on the project in Jubail in northeastern Saudi Arabia, al-Zamil said.
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