In its Endeavor to Become One of the Five Leading Epoxy Producers in The World, NAMA Proceeds With Expansion of The Epoxy in Jubail at a Cost of SR 436 Million
As part of its growth strategy, NAMA Chemicals (NAMA) has embarked on the execution of its expansion plans by starting the detail engineering of doubling the capacity of the epoxy plant
NAMA Chemicals announced today that Jubail Chemical Industries Company (JANA), one of NAMA's affiliates based in Jubail, has completed approximately 30% of detailed engineering of the Epoxy plan expansion (covering a range of Epoxy Resins - Liquid, Solution and Solid forms), which will allow it to produce 120,000 MT annually, at a cost of SR 436 Million.
NAMA is one of the first and leading producers of Epoxies in the Middle East. The company is committed to serve its valued customers with the best quality products and solutions, by using state-of-the-art production facilities and assuring that the expansion employs the latest Epoxy technology, in addition to the most advanced process knowhow. NAMA is devoted to maintaining an efficient supply chain through its own offices and distribution partners around the world.
In this context, Abdulmohsen Al Ogaili, CEO of NAMA Chemicals, emphasized on the importance of the Saudi Industrial Development Fund role in supporting local industries, especially during the world pressing economical situation, where lending institutions ability to support the industry is diminished. Such support came in a form of granting a project loan of SR 210 million after review of the overall plans and a careful studies of the project, which has clearly proven a strong strategic fit and economic viability, in addition to enabling NAMA to maintain its market lead in the our region and increase our market share around the world to meet the growing demand of Epoxy products.
Al Ogaili added that the expansion project will be completed in two years and will enable NAMA to double its production capacity to reach 120 Thousand Tons annually.
He also stated: "By 2012, the production capacity of our plant will be increased by 100%, which will allow us to be one of the five largest producers of Epoxy in the world. This will positively affect the financial performance of the company in general; by reducing production costs and extending NAMA reach globally to meet the increasing Global demand for Epoxy, which is considered to be one of the most important raw materials for paints and other major industrial sectors such as automobiles, building and construction and engineering, as well as the fast growing wind power industry ."
NAMA aims to continue its projects development by expanding its existing facilities while working to diversify its product portfolio through producing new value added products, to serve its customers around the world.
NAMA is currently selling and distributing its products to 52 countries around the world through its dedicated marketing team and International distribution partners. The company values its strategic partners with which it has long term dedicated business both as customers and row material suppliers.