15 July 2013 03:36 [Source: ICIS news]
SINGAPORE (ICIS)--International Diol Co (IDC) has awarded an engineering, procurement and construction contract with South Korea’s eTEC partly to debottleneck its plant facilities at Al Jubail in Saudi Arabia, parent firm Saudi International Petrochemical (Sipchem) said over the weekend.
IDC operates a 75,000 tonne/year butanediol (BDO) plant at the Al Jubail site, according to Sipchem’s website.
The contract will also “improve the efficiency and the reliability of its plant facilities”, the company said in a filing to the Saudi Stock Exchange on 14 July.
The construction and licensing costs for the project is expected to amount to Saudi riyal (SR) 393m ($105m), the company said.
Construction work for the project began on 14 July and is expected to be completed in the fourth quarter of next year, it added.
“The financial impact of the project, which will be announced in due course, will appear on financial results after commercial operation,” the firm added.
IDC also produces tetrahydrofuran (THF) and gamma-butyrolactone (GBL).
($1 = SR3.75)
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