April 10 (Bloomberg) -- Saudi Basic Industries Corp., the world’s largest petrochemical maker, plans to begin producing urea in the third quarter of 2014 at a plant being built by its fertilizer unit.
The facility, called Safco-5, will cost 2 billion riyals ($533 million) and produce 1.1 million metric tons a year, the parent company, known as Sabic, said in its 2011 annual report. The plant will be operated by Saudi Arabian Fertilizer Co., also called Safco, Sabic said in the report released yesterday.
Sabic’s steel-manufacturing capacity will increase to 6 million tons a year in 2012, upon completion of a new factory in the eastern city of Jubail that is to start operation in the second half, it said.
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