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(Arabian oil and gas) -- Saudi
International Petrochemical Company (Sipchem) affiliate Gulf Advanced Cable
Insulation Company has awarded on LSTK basis the engineering design, procurement
and construction contract for the Wire and Cable Polymers Compounding Plant to
POSCO Engineering Co, South Korea. The new plant will produce the power cable
insulation materials at Sipchem’s site in Jubail Industrial City. This plant
comes as part of Sipchem’s third phase expansion downstream program. Gulf
Advanced Cable Insulation Company is equally owned by Sipchem and Hanwha
Chemical of South Korea.
The estimated cost of the plant is around $61.3 million, which is
expected to start up in the third quarter 2013. Feedstock for the plant will be
sourced from the International Polymers Company, one of Sipchem affiliates.
mrcplast.com
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