“Saudi Arabia is a significant player in both the regional and global petrochemicals market, with further growth expected in the coming years,” said Faisal J. Al-Hejailan, CEO of the Al-Hejailan Group. Therefore, we are happy to sign this contract because it fits with our group’s plan to take part in the downstream industry.
We also recognise and appreciate the Ministry of Energy’s and the Royal Commission’s pioneering efforts in enabling the various sectors of Saudi Arabia’s industrial base to collaborate in order to carry out Vision 2030 in general and this agreement in particular.
“This partnership is a demonstration of delivering solutions that will help advance the energy transition,” added Howard Ungerleider, president and CFO of Dow. We are enthusiastic about this chance to work with Al-Hejailan and grateful for their crucial assistance, as well as that of the Royal Commission.
The Al-Hejailan Group is anticipated to construct and run the JV. According to the terms of the agreement, the company will own a 25% stake in the joint venture, while Al-Hejailan will own a 75% stake.
The facility will make use of the business’ manufacturing technologies, and Page 2 of 2 ®TM Trademark of The Dow Chemical Company or a subsidiary will be in charge of marketing the MDEA produced at the facility. The plant is anticipated to start construction in 2024 and go online in 2025.
The business will create a downstream manufacturing facility in addition to the joint venture, which will source its raw materials from it. This new facility will increase the production of the company’s high-performance, MDEA-based UCARSOLTM products and blend the ACCUTRACETM fuel markers for the area.
With this investment, Dow will be better positioned to support regional energy transition strategies, such as bringing industry-leading gas treating, carbon capture, and fuel additive technologies to the area. In late 2024, the facility is anticipated to be operational.
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