Sadara Joint Venture Now 94 Percent Complete – On Track for First Production Units to Start up in 2015
June 23 2015 - 8:30AM
Business Wire
Sadara Chemical Company (Sadara) is progressing on-budget and
on-schedule in alignment with Dow’s strategy to enable
cost-advantaged growth in fast-growing regions such as Asia
Pacific, the Middle East, Africa, and Eastern and Central Europe.
Sadara is a joint venture developed by The Dow Chemical Company
(NYSE: DOW) and Saudi Arabian Oil Company (Saudi Aramco).
“Sadara is a cornerstone of Dow’s strategy to leverage our
technology and scale as we shift our portfolio toward higher-growth
businesses with integration to cost-advantaged feedstocks,” said
Andrew N. Liveris, Dow’s chairman and chief executive officer.
“Dow’s investment in Sadara represents our focus and commitment to
expand participation in attractive markets as we deliver
consistent, long-term earnings growth, a key component of our
strategy. Sadara is perfectly positioned to drive this growth in
developing markets, where we have strong value drivers.”
Significant progress has been made in starting up key
infrastructure and utility systems. Overall construction of the
manufacturing facility is now approximately 94 percent complete
with 47,000 personnel on site in Jubail Industrial City II, Saudi
Arabia. The commissioning and startup of key utilities
infrastructure is underway and the process for first production
units will begin in the second half of the year with initial
polyethylene production beginning near the end of 2015. Full site
operations remains on track for the end of 2016.
Sadara’s 26 manufacturing assets are scheduled for a sequenced
start-up process, beginning with the polyolefins envelope to
maximize timing in the ethylene cycle, followed by ethylene
oxide/propylene oxide and their derivatives, with the polyurethanes
portfolio in the final phase.
Customer excitement is increasing as Dow businesses actively
prepare to market and sell the majority of products produced by
Sadara Chemical Company via agreements with the joint venture, to
support growth in key markets such as packaging, construction,
electronics, furniture and bedding, automotive and
transportation.
Progress also continues as Dow works with its customers to
attract downstream investments to the advanced manufacturing value
park adjacent to Sadara, PlasChem Park, in support of a diversified
Saudi economy and job growth in the region.
About Dow
Dow combines the power of science and technology to passionately
innovate what is essential to human progress. The Company is
driving innovations that extract value from the intersection of
chemical, physical and biological sciences to help address many of
the world's most challenging problems such as the need for clean
water, clean energy generation and conservation, and increasing
agricultural productivity. Dow's integrated, market driven,
industry-leading portfolio of specialty chemical, advanced
materials, agrosciences and plastics businesses delivers a broad
range of technology-based products and solutions to customers in
approximately 180 countries and in high-growth sectors such as
packaging, electronics, water, coatings and agriculture. In 2014,
Dow had annual sales of more than $58 billion and employed
approximately 53,000 people worldwide. The Company's more than
6,000 product families are manufactured at 201 sites in 35
countries across the globe. References to "Dow" or the "Company"
mean The Dow Chemical Company and its consolidated subsidiaries
unless otherwise expressly noted. More information about Dow can be
found at www.dow.com.
Note: The forward-looking statements contained in this document
involve risks and uncertainties that may affect the Company’s
operations, markets, products, services, prices and other factors
as discussed in filings with the Securities and Exchange
Commission. These risks and uncertainties include, but are not
limited to, economic, competitive, legal, governmental and
technological factors. Accordingly, there is no assurance that the
Company’s expectations will be realized. The Company assumes no
obligation to provide revisions to any forward-looking statements
should circumstances change, except as otherwise required by
securities and other applicable laws.
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affiliated company of Dow
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version on businesswire.com: http://www.businesswire.com/news/home/20150623005817/en/
The Dow Chemical CompanyRachelle Schikorra, +1 (989)
638-4090ryschikorra@dow.com
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