Saudi Advanced Petrochemicals signs new off-take deal with Vinmar
by ChemOrbis Editorial Team - content@chemorbis.com
According to a statement from the company, Saudi Arabia’s Advanced Petrochemical Company signed a long-term off-take agreement with US-based Vinmar International, Ltd. on November 29, 2017.
The agreement will be effective as of January 1, 2019 for five years following the termination of the existing off-take agreement on December 31, 2018.
Accordingly, Vinmar will purchase 175,000 tons/year of PP in 2019 and 144,000 tons/year of PP from 2020 to 2023 from the Saudi company.
Saudi Advanced already signed two off-take agreements with Japan’s Mitsubishi Corporation for the purchase of 150,000 tons/year of PP and Belgium’s Domo Investment Group for 100,000 tons/year of PP for a period of 10 years.
The agreement will be effective as of January 1, 2019 for five years following the termination of the existing off-take agreement on December 31, 2018.
Accordingly, Vinmar will purchase 175,000 tons/year of PP in 2019 and 144,000 tons/year of PP from 2020 to 2023 from the Saudi company.
Saudi Advanced already signed two off-take agreements with Japan’s Mitsubishi Corporation for the purchase of 150,000 tons/year of PP and Belgium’s Domo Investment Group for 100,000 tons/year of PP for a period of 10 years.
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