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Sabic Awards Contract for Sharq-1 Expansion Project to Foster Wheeler Energy

Source: www.gulfoilandgas.com 2/10/2005, Location: Middle East

Saudi Basic Industries Corporation (SABIC) has awarded a program management services contract for engineering, procurement and construction management of the Sharq 3rd Expansion Project to Foster Wheeler Energy Ltd., United Kingdom.

SABIC Vice Chairman and CEO, Mr. Mohammed H. Al-Mady said, “After the expansion, Sharq will be one of the world’s largest petrochemical sites. Production following the expansion is scheduled to begin before the end of 2008, boosting SABIC’s contribution to the national economy and enhancing its competitiveness worldwide.”

The contract was signed on behalf of Eastern Petrochemical Company (Sharq) by Dr. Abdulaziz S. Al-Jarbou, Chairman of the Board of Directors, and by Mr. Steve Davies, Chairman of Board of Directors of Foster Wheeler Energy Ltd.

SABIC is currently the world’s number two in Ethylene Glycol production and will become number one upon the completion of several ongoing expansion projects. The company is also third in Polyethylene production, and fourth in Polyolefins overall.


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