07 May 2012 09:42 [Source: ICIS news]
SINGAPORE (ICIS)--Saudi International Petrochemical’s (Sipchem) new 100,000 tonnes/year ethyl acetate (etac)/butyl acetate (butac) plant at Jubail in Saudi Arabia is expected to be started up in the second quarter of 2013, the firm said over the weekend.
Sipchem earlier this month signed a loan financing agreement of Saudi riyal (SR) 164.8m ($43.9m) to support the construction of the plant, the Saudi firm said in a statement on 5 May.
The agreement was signed between its affiliate firm, Sipchem Chemicals, and the Saudi Industrial Development Fund (SIDF), the statement said.
The project, which will cost around SR350m, is part of Sipchem’s phase III expansion programme.
International Acetyl, an affiliate of Sipchem, will provide feedstock acetic acid for the plant, while co-feedstock ethanol will “be imported from international markets at competitive prices”, according to the statement.
The company announced earlier the signing of the technology agreement with France-based Rhodia.
($1 = SR3.75)
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