Saudi Arabia-based chemical manufacturing company, SABIC has signed a tripartite Joint Development Agreement (JDA) with Aramco, one of the world’s largest integrated energy and chemicals companies, and PKN ORLEN to assess the technical and economic feasibility of a potential petrochemical project in Gdansk, Poland.
PKN ORLEN (Polski Koncern Naftowy Orlen Spółka Akcyjna) is a Polish oil refiner and petrol retailer. The corporation is a significant European publicly traded firm with major operations in Poland, the Czech Republic, Slovakia, Germany, and the Baltic states as well as an operation in Canada.
The JDA between SABIC, Aramco, and PKN ORLEN aspires to evaluate jointly the potential development of a petrochemical complex in the Polish city of Gdansk. As per the reports, potential production capacities and financial details were not disclosed.
Recently, PKN ORLEN finalized a deal with Saudi Aramco for the sale of a 30 percent stake in the Gdansk refinery as part of the merger with the Polish oil company, LOTOS. The European investments support the expansion of Aramco’s global downstream presence.
Mr. Abdulrahman Al-Fageeh, Acting Chief Executive Officer of SABIC stated that, “SABIC’s global presence in chemicals has enabled us to offer customer-focused innovative solutions both in Europe and globally.”
“The joint development agreement has embarked SABIC on key steps toward a potential partnership with Saudi Aramco and PKN ORLEN in petrochemicals,” the Acting CEO of SABIC added.
Earlier this year, SABIC expanded its portfolio of exceptionally chemically resistant LNP CRX polycarbonate (PC) copolymer resins with four new grades.
These grades feature sustainability, thin-wall flame retardancy (FR), low-temperature ductility, and ultraviolet (UV) stability, well-suited for healthcare and consumer electronics applications.