China's SSEC wins deal to build SABIC PET plant in Saudi Arabia
30 December 2010 07:48 [Source: ICIS news]
SHANGHAI (ICIS)--?xml:namespace>China’s Sinopec Shanghai Engineering Co (SSEC) has won a contract to build a new 420,000 tonne/year polyethylene terephthalate (PET) plant in Yanbu, Saudi Arabia, for Arabian Industrial Fibers Co (Ibn Rushd), a source at the Chinese engineering firm said on Thursday.
Financial details of the deal were not disclosed.
SSEC is a subsidiary of China’s state-owned oil and gas group Sinopec, while Ibn Rushd is an affiliate of petrochemical giant Saudi Basic Industries Corp (SABIC).
Construction work on the PET plant at Ibn Rushd’s petrochemical complex in Yanbu would kick off at the start of 2011 and would take around 24 months to complete, the source told ICIS.
Once completed, the Ibn Rushd’s PET capacity would more than double to 750,000 tonnes/year from the existing 330,000 tonnes/year, the source added.
Meanwhile, Ibn Rushd awarded two other contracts for the debottlenecking of its aromatics and utilities & offsite (AOU) facility and its purified terephthalic acid (PTA) plant at the same site to Taiwanese contractor CTCI Corp, CTCI said on its website.
After debottlenecking, Ibn Rushd's aromatics production capacity would more than double to 1.2m tonnes/year from 560,000 tonnes/year, and more than double its PTA capacity to 750,000 tonnes/year, according to news agency Reuters, citing an e-mailed statement from SABIC.
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