Saudi Chemanol, US Varsal ink deal to build chemical plant in Jubail

June 26, 2018 - Riyadh Mubasher: Saudi Arabia-based Methanol Chemicals Company (Chemanol) on Tuesday signed a memorandum of understanding (MoU) with the US-based Varsal Inc. to prepare feasibility studies for establishing a dimethyl disulfide (DMDS) plant in Jubail Industrial City. This joint venture (JV) is part of Chemanol's investment plans to contribute to achieving Saudi Vision 2030, according to a statement to the Saudi Stock Exchange (Tadawul). DMDS is used in oil refineries, as well as other industries, the Saudi chemicals company noted. Chemanol last reported an 82.9% rise in losses to SAR 10.26 million in the first three months of 2018, from SAR 5.61 million during Q1-17. On Monday, the stock remained stable to close at SAR 9.55.

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