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Six Saudi industrial projects get USD 5.6bn go ahead

February 16/2012

(constructionweekonline) -- Six industrial mega projects worth a total of USD 5.6bn have been approved for construction in Jubail by the Royal Commission for Jubail and Yanbu.

The deals were signed by Commission Chairman Prince Saud bin Abdullah Thunayyan, at Jubail Industrial City on Sunday, who said the projects are expected to generate huge employment opportunities for the region.

The largest deal is for the construction of a USD 3.2bn facility to produce ethylene propylene diene monomer, rubber and black carbon that are used in automobile industry. The deal was signed with the Al Jubail Petrochemical Company (Kemya), a joint venture between Saudi Basic Industries Corp. and Exxon Mobil Corp. The new factory will cover 32.7 hectares and supply automotive markets globally.

A second project, worth USD 800mln, was awarded to Jubail Chemical Industries Company (JANA) to set up an industrial complex for the expansion of existing industries and adding new products with an annual production capacity of 600,000 tons. These included products used in a number of downstream industries such as painting, leather and several chemical industries.

Saudi International Petrochemical Co. (SIPCHEM) was allocated USD750mln for a factory that will produce ethylene vinyl acetate and low-density polyethylene. The plant will produce around 200,000 tonnes of the products annually once up and running. Another deal will see National Industrialization Co., or Tasnee, develop a USD 373mln plant that will produce 80,000 tonnes of super-absorbent polymers annually.

Author:Anna Larionova
Tags:PP, ethylene.
Category:General News
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