5 companies bid for Sabic plastic plant
Al Khobar , December 3, 2012
Five international engineering firms have bid to build a 50,000 tonnes-per-year polyacetal plant at Ibn Sina, an affiliate of Saudi Basic Industries Corporation (Sabic), industry sources said.
Sabic said the project to produce a plastic which is mainly used in the car industry, would require investment of nearly $400 million.
Spain's Dragados, China National Chemical Engineering Company (CNCEC), Taiwan's CTCI, South Korea's Hanwha Engineering and SK Engineering and Construction have all made bids.
Bidding closed on November 28 after it was extended from an October deadline, the sources said.
National Methanol Company, better known as Ibn Sina, is 50-per cent owned by Sabic, the world's largest chemical company, while Celanese Corp and an affiliate of Duke Energy Corp each have a 25 per cent-stake.
The plant was originally planned to start up by 2013 with engineering and construction work beginning by 2011.
Sabic CEO said last month the company has given the go-ahead for the polyacetal plant, which will use methanol feedstock from Ibn Sina.
Some Saudi petrochemical companies have said they have faced difficulties sourcing feedstock supplies for new projects as the oil-rich kingdom balances their claims for gas supplies against the need to use it for power generation.-Reuters
More Industry, Logistics & Shipping Stories
- DNV to re-certifiy Drydocks World services
- Amphibious boats make global debut in Dubai
- Qatar sets up mixed business incubator
- Non-oil sectors ‘biggest contributors to UAE economy’
- Alba educates customers on best practices
- Spinneys to set up distribution centre at Kizad
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV
- Major maritime conference to be held in Dubai
- GPIC wins key IFA certification
- Gulf rules must aid e-commerce: Aramex
- Gulftainer expands 2013 ops by 50pc
- DMCA to take part in Dubai boat show
- Al Namal to launch eco-friendly chillers
- Abu Dhabi city ports to receive facelift
- Kuwait Styrene posts $180m net profit
- Drydocks set for key energy event