Daelim Industrial announced on Jan. 16 that it would invest in the operation of a Polyisobutylene plant in Saudi Arabia. The plant is a joint venture between Saudi Arabia's Aramco and France's Total and will be part of a large-scale petrochemical complex that is being built in the Jubeil Industrial Complex in eastern Saudi Arabia.
Daelim Industrial plans to build and operate a world-class mammoth-sized plant capable of producing 80,000 tons of Polyisobutylene per year in the complex. Daelim Industrial expects to start building the plant in 2022 with commercial operation slated for 2024.
Daelim Industrial is the world’s only company with a patented technology to produce conventional polyisobutylene and highly reactive Polyisobutylene together at a single plant. This technological prowess landed the company the project pursued by Aramco and Total.
Currently, Daelim Industrial operates a Polyisobutylene plant with an annual production capacity of 200,000 tons in the Yeosu Industrial Complex in Korea. The company is now expanding the plant’s production capacity to 250,000 tons. Once the investment is completed, Daelim Industrial will be able to produce 330,000 tons of Polyisobutylene annually. The company is expected to further cement its unrivaled position by securing a global market share of more than 35 percent including exclusive sales rights to Lubrizol products.