19 June 2013 11:55 [Source: ICIS news]
SINGAPORE (ICIS)--Sipchem Chemicals has awarded a contract to Germany's Thyssenkrupp Uhde for the construction of a new polybutylene terephthalate (PBT) resin plant in Saudi Arabia, the Saudi International Petrochemical Co (Sipchem) said late on Tuesday.
The engineering design, procurement, construction and commissioning contract for the 63,000 tonne/year PBT plant in Al-Jubail was awarded on 18 June, Sipchem said in a filing to the Saudi Stock Exchange.
Sipchem Chemicals is an affiliate of Sipchem.
The project is estimated to cost about Saudi riyal (SR) 600m ($160m) and is expected to start full operations at the end of 2014, Sipchem said.
PBT resin is a thermoplastic polymer used in manufacturing compounds in the automotive, electrical, electronics and IT material industries.
The PBT plant will be using butanediol (BDO) produced by Sipchem affiliate – the International Diol Co – as primary feedstock, Sipchem said.
On 3 June, Sipchem announced the signing of a loan agreement with Saudi Industrial Development Fund (SIDF) for the funding of the PBT project.
($1 = SR3.75)
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