Saudi Kayan gets more gas for making ethylene

Updated 08 February 2015

Saudi Kayan gets more gas for making ethylene

ALKHOBAR: Saudi Arabia's Oil Ministry has allocated more natural gas to Saudi Kayan Petrochemical Co. for it to expand ethylene production at its petrochemical complex in Jubail, the company said on Sunday.
The ministry has allocated the affiliate of Saudi Basic Industries Corporation (SABIC) an extra 10 million cubic feet a day (scfd) of ethane from July 1, Kayan said in a bourse statement.
The extra gas will allow it to raise ethylene production capacity by at least 93,000 tons a year and ethylene oxide capacity by 61,000 tons a year by the second quarter of 2017, it said.
The additional ethane supply will also allow the company to reduce its consumption of butane gas, it said.
As part of the same deal, SABIC will also reduce the marketing fees it charges Saudi Kayan, which will save the company SR280 million ($74.6 million) this year and SR600 million a year once its projects are completed, it said.


Saudi finance ministry hosts foreign investors ahead of budget 

Updated 09 December 2019

Saudi finance ministry hosts foreign investors ahead of budget 

  • Twenty two international investment companies are being shown around some of the Kingdom’s top non-oil based companies
  • Saudi banks such as SAAB, Samba, NCB, Bank AlJazira and Alinma Bank are also in attendance

RIYADH: Saudi Arabia’s Ministry of Finance has kicked off a tour for foreign investors in Riyadh today ahead of the 2020 Budget Forum on Dec. 10.
Twenty two international investment companies from Taiwan, the US, the UK, Malaysia, Indonesia, Japan, Hong Kong, Germany and France have been invited to visit some of the Kingdom’s top non-oil based companies.
The group includes a number of international investment companies, insurers and asset managers, including Goldman Sachs, Mayfair Bank, Etiqa Insurance and Nippon Life Insurance Company among others.
Saudi banks such as SAAB, Samba, NCB, Bank AlJazira and Alinma Bank are also in attendance.
Among the sites visited by the delegation are the Riyadh Metro, where the group got a glimpse of the bus and train systems that are due to launch mid-2020. 
The tour also takes in Al-Turaif UNESCO heritage site, and Qiddiya, the entertainment mega project under development in Riyadh.