14 November 2000 20:20 [Source: ICIS news]
AL-JUBAIL, Saudi Arabia (CNI)--Plans by Saudi Basic Industries Corp (Sabic) to build a new ethane cracker at Yanbu on the Red Sea coast were confirmed here Tuesday by vice chairman and managing director Mohamed Al-Mady.
He said ethane for the cracker, which will have a capacity of at least 800 000 tonne/year, is expected to be provided by Saudi Aramco.
Al-Mady said that if feedstock commitments were received soon the project should be completed around 2004.
He put the likely capital cost at "not less than $400m (Euro465m) without downstream facilities."
Although Sabic/ExxonMobil joint venture Yanpet has openly expressed an interest in building a third cracker at Yanbu, Al-Mady said the new cracker would be a Sabic project.
"I have had no request from Yanpet for a cracker," he said.
Al-Mady also appeared to cast doubt on reported plans by Sabic affiliate Petrokemya to build a new cracker here on Saudi Arabia's east coast. While confirming plans to proceed with Sabic's Jubail United cracker complex, he said he was unaware of any plans for a new Petrokemya cracker.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|