Advanced announces start-up of propylene, PP plants in Jubail
The petrochemicals producer also started operations at two Polypropylene (PP) Plants, with a combined designed capacity of 800,000 tons annually, according to a statement to Tadawul.
The plants, operated through Advanced Polyolefins Industry Co. (Advanced Polyolefins), are located in Jubail Industrial City.
Advanced noted that the financial impact of Advanced Polyolefins will be shown in its consolidated financial statements starting from the third quarter of 2025.
Advanced Polyolefins is a joint venture, with 85% owned by Advanced Global Investment Co. (AGIC) and 15% by SK Gas Petrochemical Pte. Ltd. (SKGP).
According to data compiled by Argaam, Advanced Polyolefins secured financing from several banks in 2022 totaling SAR 6.1 billion to establish a complex in Jubail Industrial City. The complex includes three plants for processing propane gas, propylene, and isopropanol, with a total project cost estimated at approximately SAR 7.05 billion.
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