A unit of Saudi Bin Laden Group plans to more than double its naphtha capacity by investing US $1.2 billion in Senegal.
Petroleum, Chemicals and Mining Co (PCMC) plans to expand naphtha capacity of Societe Africaine Raffinage refinery from the current 1.2 million tons per year to around 3 million tons per annum.
This was revealed by Chief Executive Officer - Jasem Al Shaikh at a conference in Manama - Bahrain.
The naphtha will be mainly exported to the US and Brazil. Alongside PCMC will also increase its stake to 51 percent from 34 percent in Societe Africaine Raffinage refinery.
Fibre2fashion News Desk - India
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