Arkema and Watan form joint venture; will build organic peroxides plant in Saudi Arabia
Mary Page Bailey
Arkema (Colombes, France; www.arkema.com), a worldwide producer of organic peroxides, and Saudi investment company Watan Industrial Investment have signed an agreement for the construction of an organic peroxide production site on the Al Jubail platform, Saudi Arabia. The facility, requiring an investment of about $ 30 million, will be the first organic peroxide plant in the Middle East region. In the Arkema-Watan Industrial Investment joint venture, Arkema will be a majority holder, with Watan overseeing the operational management and sales of the site. The plant’s startup is scheduled in the first months of 2015.