The Al Hejailan Group has partnered with Dow to create a new company that will design, build and operate a new polyacrylic acid (PAA) and emulsion polymers plant at the Plaschem Park in Saudi Arabia.
According to a statement, Al Hejailan will be the majority shareholder in the new joint venture (JV) company, with a 75% stake, while Dow will hold the remaining 25% of the company.
The plant will be built and operated by Al Hejailan Group, while Dow will be responsible for the marketing of the plant’s production. The plant is expected to come on-stream in 2023.
“We are excited about this investment, which fulfills an important milestone in our group’s overall strategy and drives towards the development of more robust and expansive downstream manufacturing capabilities in the kingdom. It further strengthens our strategic partnership with Dow, as we work jointly to capture downstream opportunities that align with the Kingdom’s localisation program and the overall Vision 2030 programme,” said Al Hejailan Group CEO Faisal Al Hejailan.
The partnership will enable Al-Hejailan and Dow to meet growing customer demand for coatings and water treatment applications in the Kingdom of Saudi Arabia and the broader Middle East region, as well as penetrate new markets, the statement said.