JUBAIL, 28 June 2005 — Industrial Projects Management and Development Company (PMD) signed in Jubail industrial city on Sunday, its first technology licensing agreement with Basell International company, a leading supplier of polypropylene (PP) and catalysts and a global leader in the development of PP and polyethylene (PE) processes. The agreement provides PMD with the Lupotech-T technology to produce low density PE and the Spheripol technology to produce PP at three production plants for its petrochemical project, which is to be operational in 2008. PMD signed with a petrochemical management company to design, construct and administer the project.