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| 2007-02-16 |
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SABIC: Saudi Kayan awards two Contracts for the Construction of Phenolics and Polycarbonates Plants
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SABIC affiliate, SAUDI KAYAN, has signed two letters of award with the first contract being awarded to TECNICAS REUNIDAS GROUP to construct a Phenolics Plant, to produce 240 kta of Bis-Phenol A. The second contract was awarded to DAELIM Industrial Co, Ltd. to construct a Polycarbonate (PC) plant to produce 260 kta of PC. Mutlaq Al-Morished, SABIC Vice President Corporate Finance and Chairman of SAUDI KAYAN explained that the company plans to go live in 2009 with an annual capacity exceeding 4 million tons of varied petrochemical products. These products will strengthen SABIC’s competitiveness, introduce specialty products for the first time in Saudi Arabia, provide wide opportunities for the growth and diversity of national downstream industries and create promising job opportunities for Saudi citizens. Advert SAUDI KAYAN is currently under construction. SABIC (www.sabic.com, www.sabic-europe.com) holds 35 percent of the company’s capital of SR 15 billion and the Kayan Petrochemical Company holds 20 percent. The remaining 45 percent will be offered for public subscription.
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SABIC, Riad/Saudi Arabien
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