South Korea's Daelim has won a $750 million engineering, procurement and construction contract from Sahara Petrochemicals to build a new petrochemical plant in Jubail Industrial City in Saudi Arabia, a report said.

The project, a joint venture between Sahara and the Saudi Arabian Mining Company (Maaden), will have a production capacity of 250,000 tonnes per year (tpy) of high grade sodium hydroxide and 300,000 tpy of ethylene dichloride.

Preliminary work has begun for the project which uses German UHDE technology. Work on the project is due to be complete in the fourth quarter of 2012.