Albemarle and TAYF Create Saudi Organometallic Chemicals Company (SOCC), a Strategic Catalysts Joint Venture
New 50/50 Joint Venture Will Build First World-Scale Organometallics Catalyst Plant in the Middle East
Albemarle Corporation announced that it will form a 50/50 joint venture with Ibn Hayyan Plastic Products Company (TAYF), an affiliate of Saudi Basic Industries Corporation (SABIC), called Saudi Organometallic chemicals Company (SOCC). Under the terms of the joint venture agreement, the two parent companies will build a world-scale organometallics production facility strategically located in the Arabian Gulf Industrial City of Al-Jubail.
SOCC will be the first company of its kind to produce these products in the region. The construction of the plant is expected to begin in the fourth quarter of 2009 with start-up anticipated by early 2012.
The new facility will have the capacity to produce 6,000 metric tons of tri-ethyl aluminum equivalents annually. Tri-ethyl aluminum is used primarily as a co-catalyst in Ziegler-Natta type systems for olefin polymerizations. The manufacturing joint venture will be established and uniquely positioned to ensure the effective delivery of tri-ethyl aluminum to the region's growing customer base.
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