Saudi's SAGIA grants licenses for Chevron aromatics project

24 April 2002 07:36  [Source: ICIS news]

SINGAPORE (CNI)--The Saudi Arabian General Investment Authority (SAGIA) has granted more than one licence for an aromatics expansion project led jointly by Chevron Phillips Chemical and local company Saudi Industrial Investment Group (SIIG) in Al-Jubail, Saudi Arabia, CNI was told on Wednesday.

A SAGIA spokesman said the fact that more than one license had been granted was due to the nature of the project which will produce four petrochemical products - benzene, styrene monomer (SM), ethylbenzene and propylene.

The project, which will be built at the existing aromatics complex of Chevron and SIIG, is expected to produce 600-700 000 tonne/year of SM. Neither company would reveal the capacities of benzene and propylene.

The project is estimated to cost $1bn, with startup scheduled for 2006.

Chevron's and SIIG's existing aromatics complex is currently producing benzene, cyclohexane and gasoline.

SAGIA was set up by the government of Saudi Arabia to handle investment issues, including the evaluation of investment projects and the formulation of government policies concerning investment activities.

By: Clara Tan
+65 6780 4359

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