Daelim wins $888m deal to build Saudi petchem unit

06 May 2008 12:49  [Source: ICIS news]

DUBAI (ICIS news)--Daelim Industrial Co has won a $887.9m contract to build a petrochemical plant for Saudi Kayan Petrochemical Co, the South Korean company said on Tuesday.

  

The plant, to be based in Al-Jubail, Saudi Arabia, would be completed by 2010, Daelim added.

 

The complex would have the capacity to produce 6m tonnes/year of petrochemicals, including ethylene, propylene, monoethylene glycol (MEG) and polypropylene (PP), Daelim said.

 

Saudi Basic Industries Corp (SABIC) is the main shareholder in Saudi Kayan with a 35% stake, while Al-Kayan Petrochemical Company holds a 20% share and the rest is publicly traded on the Saudi Arabian stock exchange.

 

Please visit the complete ICIS plants and projects database

ICIS Copyright © Reed Business Information 2009

Author: Abdelghani Henni
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