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Participation in the business of methanol production in Saudi Arabia

Mar. 20, 2002

 

Participation in the business of methanol production in Saudi Arabia

This is the first such large-scale investment in the petrochemical to Saudi Arabia by Japan in nearly twenty years.

We will participate in the world's largest produce of methanol, with annual production at 1 million tons, as a joint project with a local company in Saudi Arabia in the fall of 2004. The newly established joint company, International Methanol Company, will be capitalized by a local chemical manufacturer, Saudi International Petrochemical, three Japanese companies (including a trading company) and us.
Japanese companies will mainly take charge of the import and sales of the products.
Methanol is a basic material for chemical products such as adhesives and synthetic resins. Since Japan cannot make these products without this resource being imported, we will produce methanol in Saudi Arabia where cheaper natural gas is available, and a part of then will be imported to Japan.


 
 
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