16th of October 2022, Global Company for Downstream Industries (GDI) and Methanol Chemicals Company (Chemanol) signed a head of agreement for a strategic partnership to produce specialty chemicals including methyl diethanolamine, choline chloride at an indicative cost of around Saudi Riyal (SR) 500m. The partnership aims also to explore the possibility of producing other chemical materials such as dimethyl disulfide, dimethyl sulfate, chlorine derivatives, poly alpha olefins and aromatic solvents.

The two companies are currently working on preparing the economic and technical feasibility studies for future projects, coordinating with the competent authorities for approvals and licenses, identifying global technology providers and identifying sources of funding.

On Feb. 13, 2022 GDI and Chemanol signed a non-binding initial agreement in order to explore potential partnerships.