PETROKEMYA AWARDS CONTRACT TO SAMSUNG ENGINEERING FOR NEW BUTENE-1 PLANT

Source: www.gulfoilandgas.com 7/16/2003, Location: Middle East

Riyadh, Saudi Arabia (July 16, 2003): Arabian Petrochemical Company (PETROKEMYA), a wholly owned affiliate of Saudi Basic Industries Corporation (SABIC) has awarded a lump-sum turnkey contract to the Korean company, Samsung Engineering Co. for the engineering, procurement and construction of a third Butene-1 plant. The facility will be constructed at Al-Jubail Industrial City on the eastern coast of Saudi Arabia, and is scheduled for completion by the first quarter of 2005. Plant capacity will be 130,000 mt per year of butene-1. The two existing butene-1 plants at PETROKEMYA already produce 100,000 mt/y. After the expansion, the affiliate will have a total butene-1 capacity of 230,000 mt/y.

Vice Chairman and CEO of SABIC, Mohamed Al-Mady said: "This expansion reaffirms SABIC’s commitment to grow its core business, and moves us closer to achieving our vision of to become one of the world’s leading global petrochemical companies. With this additional plant, we are moving closer to our production target of 48 million mt/y by 2010."

PETROKEMYA and SABIC Engineering & Project Management jointly undertook the work leading to the contract, which was awarded through an international competitive bidding process.

Other products produced by PETROKEMYA include ethylene; polystyrene; propylene; butadiene; and benzene.


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