SABIC awards contract to build plant to Japanese company
The Saudi Arabian Petrochemicals Company (Petrokemya), which is a subsidiary of Saudi Basic Industries Corp (SABIC), the giant Saudi Arabian industrial concern, has announced that it has awarded a turnkey contract to build a petrochemical plant in the industrial city of Jubail to Japan's Toyo Engineering a contract.
When it comes on stream in mid-2002, the new plant would have a production capacity of 400,000 tons per annum of polyethylene.
As part of the agreement, Petrokemya would get a new 1.2 million ton olefins complex to produce ethylene, propylene and benzene. The technology used will be provided by Union Carbide
Petrokemya is a fully-owned by SABIC, which itself is 70-percent owned by the Saudi government. Created in 1981, Petrokemya produces around 2.3 million tons of ethylene, propylene, polystyrene, butene-1, butadiene and benzene a year.
SABIC accounts for about 5 percent of the world's petrochemical production. It operates 16 complexes with international firms, producing petrochemicals, fertilizers, steel and plastics. – (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)