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Sipchem Announces the Groundbreaking of EVA Films Project

Source: www.gulfoilandgas.com 11/14/2012, Location: Middle East

Saudi International Petrochemical Company (Sipchem) announces the groundbreaking of its Ethyl Vinyl Acetate (EVA) films project in Hail Industrial City under the patronage of His Royal Highness Prince Saud bin Abdul mohsen bin Abdulaziz Al-Saud, Governor of Hail, Chairman of the High Commission for Development of Hail Region.

The project is built with a total investment of about SR 120 million on an area of 40,000 m2 with annual capacity of 4,000 metric tons per annum. The project is 100% owned by Sipchem Chemicals Company (SCC), an affiliate of Sipchem and its product will be marketed by Sipchems affiliate, Sipchem Marketing and Services Company (SMSC). The project will be financed by the company and other local financers. It is worth mentioning that EVA films are used in the manufacturing of solar cell panels, which are used in the production of electricity. The project is expected to be operational by the 3rd quarter of 2013.

Sipchem considers the establishment of this project in Hail as an inspiring motive in the creation of investment opportunities by establishing new projects using the product in addition to the creation of various employment opportunities for the people of Hail.

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