In line with our earlier announcement of a joint venture to manufacture methyl methacrylate (MMA) and polymethyl methacrylate (PMMA), MRC and SABIC have recently confirmed incorporation of The Saudi Methacrylates Company (Saudi Methacrylates) and the appointment of CTCI Corporation as the EPC construction partner for the plants being built in Al-Jubail, Saudi Arabia.
MRC and SABIC each have a 50% stake inthe joint venture. CTCI Corporation (Taiwan) will begin construction of the MMA and PMMA plants later in 2014 with operations with start up in early 2017.
The JV’s MMA production capacity will be the world’s largest at 250kte pa, while the PMMA plant will produce 40kte. Saudi Methacrylates will use the latest highly efficient ‘Alpha’ technology developed by Lucite International to manufacture MMA. The JV will benefit from very competitive feedstock, utilities and other infrastructure in Saudi Arabia which together with Alpha technology will give the new business significant competitive strength in the global marketplace.
Lucite International (LI) CEO and MRC Board Director Ian Lambert, commented: “This announcement confirms another key step in the commercial roll-out of Alpha in line with our vision for the industry. With CTCI Corporation now appointed and construction due to begin we are advancing the next Alpha project. MRC, has signed a memorandum of understanding with Mitsui & Co for the establishment of a joint venture in the United States using Alpha technology for another world-scale unit. MRC will be the majority shareholder.”