Saudi Basic Industries Corporation announced the start of commissioning activities and preparations for initial start-up of the joint venture project with Exxon Mobil in the U.S. Gulf Coast. The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tons, which will feed two polyethylene units and a monoethylene glycol unit. The company expects that this project will have a positive impact on its consolidated financial statements.

The financial impact will be after the commercial operation and project completion which will be announced accordingly. This project supports SABIC-s global growth strategy, diversifying its feedstock sources and strengthening its petrochemical manufacturing presence in North America for a wide range of products.