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Sipchem Awards EPC Contract for Its PBT Resin Plant

Source: www.gulfoilandgas.com 6/18/2013, Location: Middle East

Saudi International Petrochemical Company (Sipchem) announced that its affiliate the Sipchem Chemicals Company (LLC), has awarded the engineering design, procurement, construction, and commissioning (LSTK) contract to build a Polybutylene Terephthalate (PBT) Resin Plant to ThyssenKrupp Uhde GmbH Company of Germany. The plant will produce PBT Resin with an annual production capacity of 63 thousand metric tons and will be located in Al-Jubail Industrial City.

The estimated project cost is approximately SR 600 million and the plant is expected to start full operations at the end of 2014. PBT resin is a highly specialized thermoplastic polymer used in manufacturing compounds in the automotive, the electrical, electronics and IT material industries.

Ahmad A. Al-Ohali, Sipchem CEO and Chairman of Sipchem Chemicals Company, confirmed that the award of the contract is an important step in achieving Sipchem’s robust expansion and downstream development program. Mr. Al-Ohali further stated that the new PBT project will position the company as a global player in the polymers and engineering plastics industry. The use of Butanediol produced by Sipchem Affiliate, the International Diol Company, as primary feedstock for the PBT Resin Plant allows Sipchem to take advantage of its integrated products portfolio and thus strengthen the value chain.

Sipchem previously announced on 3 June 2013 the signing of a loan agreement with Saudi Industrial Development Fund (SIDF) to finance the PBT project.

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Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

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