Saudi's Sabic in chemicals JV with Asahi, Mitsubishi

Saudi Basic Industries Corp, the world's largest chemicals producer, said it will launch a joint venture firm with Japana's Asahi Kasei Chemicals and Mitsubishi Corp.

The new company, Saudi Japanese Acrylonitrile Co (Shrouq), will build a plant to produce acrylonitrile and sodium cyanide in Jubail. The facility will have capacity of 200,000 metric tonnes annually of the former and 40,000 metric tonnes annually of the latter, Sabic said in a statement on Wednesday.