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AMOCO BEGINS ENGINEERING ON PROPOSED SAUDI ARABIAN FACILITY

 AMOCO BEGINS ENGINEERING ON PROPOSED SAUDI ARABIAN FACILITY
 CHICAGO, June 4 /PRNewswire/ -- Amoco Chemical Co. announced today that it has begun engineering on its previously announced paraxylene (PX) production venture with Saudi Chemical Investments (Chemvest).
 The proposed 300,000 to 400,000-metric-ton-per-year PX facility would be located within the kingdom of Saudi Arabia near the Petromin Shell Refining Co. (PSRC) refinery at Al Jubail, which would provide feedstocks for the PX plant.
 PX is the primary feedstock for purified terephthalic acid (PTA) which is used in the production of polyester fiber, film and container resin. Amoco is the world's largest producer of PX and PTA.
 "The project is an excellent fit for all parties involved," said L. Richard Flury, executive vice president of Amoco Chemical Co. "The project provides Amoco/Chemvest with the opportunity to invest in the first PX facility within the kingdom, while providing a continued strategic supply of PX to our worldwide PTA ventures."
 Chemvest is a private sector investment group established to promote, develop, and participate in petrochemical joint ventures in the kingdom of Saudi Arabia, neighboring Gulf Cooperation Countries and North America.
 Amoco Chemical Co. is the worldwide chemical manufacturing and marketing subsidiary of Amoco Corp. (NYSE: AN).
 -0- 6/4/92
 /CONTACT: Patricia Wright, 312-856-5566, or Mary Milnamow, 312-856-6066, both of Amoco/
 (AN) CO: Amoco Chemical Company; Amoco Corporation ST: Illinois IN: OIL SU:


DC -- DC011 -- 6963 06/04/92 10:25 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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