Chemanol has signed an MoU with Varsal to prepare the required studies to establish a dimethyl disulfide (DMDS) plant in Jubail, Saudi Arabia. DMDS is used for: i) hydrocracking catalysts sulfiding in refineries; and ii) preventing the formation of coke, mitigating CO formation in ethylene crackers. Finally, the company noted that the potential expansion opportunity comes in line with Saudi Vision 2030.
Chemanol: SAR9.55 as of 25 Jun. 2018, Rating: Sell, TP: SAR7.50/share, MCap: USD307mn, CHEMANOL AB/2001.SE