Saudi-listed Basic Chemical Industries Company (BCI) has signed a memorandum of understanding (MoU) with Johannesburg-listed BCI to establish a joint venture to manufacture a range of specialty chemicals used in water treatment and mining in Saudi Arabia.

The initiative aligns with Saudi Arabia’s Vision 2030 and the National Industrial Strategy, the company said in a statement to the Saudi stock exchange on Thursday.

The companies aim to localise the production of chemicals, such as coagulants, flocculants, flotation reagents, coatings, and chemical additives. These chemicals are used in oil and mining operations, as well as industrial wastewater treatment.

The manufacturing facilities will be located in Jubail Industrial City, adjacent to BCI’s existing chlor-alkali plant, allowing for the integration of some of its outputs as input materials for the new venture, the statement said.

The financial impact of the new ventures will be announced once final agreements are reached, the statement added.

(Editing by Anoop Menon) ([email protected]) 

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.