National Industrialization Company (TASNEE)

National Industrialization Company (TASNEE) is a Saudi joint stock company and operates in the Kingdom of Saudi Arabia. The Company was established in the year 1405H (1985G) as a first Saudi Joint-Stock Company wholly owned by the private sector. Tasnee is one of the largest industrial companies in Saudi Arabia and the Middle East, supported by high managerial and technological skills, positive indicators and a strong financial position that enable it to execute its plans in further development through investments and strategic alliances to strengthen its position in the local and international markets. The Company is in the areas of production of petrochemical products, transforming propylene, polypropylene and other downstream petrochemical products and currently ranks as the second largest petrochemical producers in Saudi Arabia. Currently, Tasnee Petrochemical Complex operates three petrochemical plants; The Saudi Polyolefins Company (SPC) that consists of two integrated plants: the propylene plant and Polypropylene plant, with an annual production capacity 455,000 tons of Propylene, and 450,000 Tons of polypropylene; The Saudi Ethylene and Polyethylene Company(SEPC) that consists two integrated complexes, the ethylene, propylene, polyethylene and their derivatives complexes. The plant is designed to produce one million tons of ethylene, 285,000 tons of propylene, 400,000 tons of high density polyethylene and 400,000 tons of low-density polyethylene per year. The production of ethylene/propylene commenced in August 2008. The production of polyethylene started early this year. Saudi Acrylic Monomers Company is still under formulation and scheduled to go into production by 2012. The project has SR2.6 billion chemical manufacturing facility, which will be the first of its kind in the Middle East. The facility is expected to produce 225,000 metric tons of acrylic acid and related esters annually.