Home / Knowledge / News / Textiles / TASNEE forms JV with German EVONIK Company
TASNEE forms JV with German EVONIK Company
27
Aug '11
TASNEE has announced that the Saudi Acrylic Acid Co., one of the subsidiaries of TASNEE & SAHARA Olefins Co., has signed a Heads of Agreement Basics to participate with German EVONIK Company to set up a factory to produce 80 tons per year of super absorbent polymer material in Al Jubail Industrial City.

The Saudi Acrylic Acid Co has already signed a joint venture agreement with Dow U.S. to establish a factory for to produce Acrylic Acid and Acrylates. It is worth mentioning that these factories are the first of their kind in the region and will benefit from Propylene produced by the giant Ethylene plant owned by TASNEE and SAHARA Co. with its partner Lyondell Basel. TASNEE owns 52.3% of the Saudi Acrylic Acid Company.

The German Company EVONIK is one of the leading international companies specialized in the field of super absorbent polymers, while the DOW is a leading manufacturer of Acrylic Acid and Acrylates. The Super Absorbent Polymers is used as a basic material for manufacturing of hygienic napkins and diapers. The Acrylic Acid and Acrylates are used for various applications as manufacturing of dyes and resins and many other industrial uses. The Super Absorbent Polymers project is expected to start production in the first quarter of 2013, with initial cost of about SR1 billion. It will provide about 100 direct job opportunities and this number can be increased with the gradual expansion of the project.

Tasnee

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search