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Kemya to start rubber plant production in 2015

Saudi Basic Industries Corp (Sabic) and ExxonMobil have announced their Kemya rubber plant is to have an immediate earnings impact from its second half 2015 start, riding increased transport demand and vehicle use in the region, Africa and Asia, Reuters has reported. The $3.4bn project is aimed at both domestic and international synthetic rubber markets as the world's top oil exporter tries to strengthen its downstream industry. "I expect active markets in the Middle East, Asia and Africa for butyl rubber demand," said Stephen Pryor, president of ExxonMobil Chemical. "The (global) demand for synthetic rubber products are going much faster than GDP, for example the butyl rubber will grow in 6% range for a number of years, EPDM rubber will grow in a similar fashion," he added.