14 May 2014
Details
Mohamed Al-Mady,
SABIC Vice Chairman and CEO
SABIC
is today seeing the rewards of innovation leadership
and driving the technology agenda
in key areas of our business.
The OTC complex
will set a new competitive standard and establish
Saudi Arabia as a technology leader
in the petrochemical industry.
OTC technology allows for the conversion of crude oil
to petrochemical products
at the highest ever achieved conversion rate
in a competitive and sustainable way.
The OTC complex will comprise
an innovative configuration of unit operations that,
in combination,
will generate the world's highest yield conversion of
oil to chemicals.
SABIC expects to utilize
around 10 million metric tons of crude oil
at the complex to produce petrochemicals,
and eventually advanced specialty chemicals
in line with SABIC’s 2025 strategy.
The complex is expected to start up
by the end of the current decade and
will provide an aggregated total of
around 100,000 new jobs,
according to current company projections.
The project comes at a time
when the company is focussing strongly
on research and innovation
to produce new materials
to face global market challenges.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
