Saudi Chemical Subsidiary Obtains Approval from Energy Body to Allocate Gas for Project

Saudi Chemical Holding Company, through one of its subsidiaries, Saudi Chemical Company Ltd., in cooperation with a local company, announced that it has obtained a letter from the Ministry of Energy to allocate sufficient gas to start a production project of nitric acid with an annual production capacity of 440,000 tons and ammonium nitrate with a production capacity of 300,000 tons annually.

Saudi Chemical Company stated, in a statement on Saudi Tadawul, today, Monday, that this project is considered the first of its kind in the region, and its importance lies in providing the raw materials prime necessary for a number of manufacturing industries in the region markets, the most important of which are civilian and military explosives, fuels, missiles, propellants and smelting salts used in the production of solar panels, as well as some supply and pharmaceutical industries .

He explained that the financial impact of this project cannot be determined at this time and that any developments related to the project will be announced in due course.

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