GPIC to study construction of ammonia and urea plants
According to Argaam, the President of International Fertilisers Association, Dr. Abdulrahman Jawahery, has announced that Gulf Petrochemical Industries Company (GPIC) is currently studying the establishment of a urea plant with a capacity of 3,600 tonnes of urea per day. GPIC is also conducting a study to build an ammonia plant with a capacity of 2,200 tonnes of ammonia per day. It is worth mentioning Saudi Basic Industries Corporation (SABIC) [2010.SE] owns 33.3% of GPIC. (Argaam) SABIC: SAR85.55 as of 27 October 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD68,440mn, SABIC AB / 2010.SE
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