SABIC awards contract to Foster Wheeler Energy
Saudi Basic Industries Corporation (SABIC) has awarded a program management service contract for the engineering, procurement and construction of its new petrochemical complex in Yanbu Industrial City to Foster Wheeler Energy Ltd.
Details of the new complex were unveiled in December 2003. It will have an annual production capacity of 3.8 million mt/y of Ethylene, Ethylene Glycol, Polyethylene, and Polypropylene products.
SABIC Vice Chairman and CEO, Mohamed H. Al-Mady, said the complex will be a one of the world’s largest petrochemical sites and is expected to begin production before the end of 2007, boosting SABIC’s contribution to the national economy and enhancing its competitiveness worldwide.
SABIC is currently world number two in Ethylene Glycol production and will become number one following construction. The company is also third in Polyethylene production, sixth in the Polypropylene and fourth in Polyolefins overall. (menareport.com)
© 2004 Mena Report (www.menareport.com)