GDI and Chemanol signed Joint Venture Agreement (JV) to establish a joint venture company

5th of February 2023, Global Company for Downstream Industries (GDI) and Methanol Chemicals Company (Chemanol) signed a Joint Venture Agreement to establish a downstream chemicals national champion company that shall develop the Projects and it will be based in Jubail Industrial City, Kingdom of Saudi Arabia.

The Joint Venture Company intends to produce various products Methyl Diethanolamine (MDEA), Choline Chloride, Dimethyl Disulfide, Dimethyl Sulfate, Chlorine Derivatives, Poly Alpha Olefins and Aromatic Solvents.

Chemanol will own a 60 percent stake in the new company, while GDI will hold the remaining 40 percent.  

On 16th of October 2022, GDI and Chemanol had signed heads of agreement (HoA) for a strategic partnership to produce specialty chemicals.