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(Arabian oil and gas) -- Saudi
International Petrochemical Company (Sipchem) has started construction
operations to build plants of Phase III projects. “The first of these two plants
produces ethylene vinyl acetate (EVA) and low density polyethylene (LDPE),” the
company said in a statement. “The second plant produces ethyl acetate and butyl
acetate. Both plants will be located in Jubail Industrial City,” it
added.
The 200 KTa vinyl acetate plant will be operated by the International
Polymers Company Limited, an affiliate of Sipchem, founded in 2009, owned by
Sipchem (75%) and Hanwha Chemical. of South Korea (25%).
The total cost of the project is estimated at approximately USD 800m, and
slated for start up during the second quarter 2013.
GS Engineering & Construction is the main contractor of the project,
and has already started works on the site. The project will utilize ExxonMobil’s
technology. Sipchem has already signed a technology license agreement with
ExxonMobil.
mrcplast.com
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