China’s Ban Asia Implements A $ 3.8 Billion Petrochemical Project In Saudi Arabia

Dubai – (Masaader News)

 China’s Pan Asia Corp said it is implementing its $ 3.8 billion petrochemical project in Jazan, Saudi Arabia, next March, according to the China Daily.

The first stage of production is scheduled for August 2020, the company said.

“The project is located in Jazan Economic City and aims to produce 2.5 million metric tons of pure trifethyl acid, 200 thousand tons of engineering plastics and 200 thousand tons of polyester fiber,” the paper said.

 According to the China Daily, the project benefits from lower taxes, land and energy costs, including natural gas.

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