12 September 2012 10:57 [Source: ICB]
China National Chemical Engineering Co (CNCEC) will submit a bid this month for the contract to construct a 50,000 tonne/year polyacetal (POM) unit being built by National Methanol Co (Ibn Sina) in Saudi Arabia. Ibn Sina, a joint venture between Saudi Basic Industries Corp (SABIC) and Celanese of the US, plans to build the plant at Al-Jubail industrial estate.
SABIC owns 50% of the joint venture while Celanese and an affiliate of Duke Energy Corp each have a 25% stake. The bid has to be submitted by 24 October.
Ibn Sina had invited Asian and Spanish engineering companies to bid for the construction contract. These include Spain's Dragados, China National Chemical Engineering Co, Taiwan's CTCI, South Korea's Hyundai Engineering, Daelim Industrial, Hanwha Engineering and SK Engineering and Construction, according to information received by ICIS.
SABIC signed the agreement with Celanese in 2010 to build the POM unit at a cost of about $400m (€317m). The unit will use methanol feedstock from Ibn Sina to produce POM. POM is used in automotive, electric and electronic parts.
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