Sipchem awards $187m EPC contracts for Saudi plant expansion
RIYADH, 2 days ago
Sahara International Petrochemical Company (Sipchem) has awarded engineering, procurement and construction contracts worth $187 milllion for the expansion of the ethylene vinyl acetate plant of one of its affiliates - International Polymers Company.
The contract was awarded to SGC E&C Company and SGC Arabia, said Sipchem in its filing to Saudi bourse Tadawul.
Following the expansion, an additional production capacity of 70,000 tonnes (high-grade ethylene vinyl acetate) will be achieved. This will take the total production capacity to 290,000 tonnes per year, it stated.
The entire contract work will be completed in 40 months, it added.
On the financial impact, Sipchem said it is expected after the project completion by Q4 2027.-TradeArabia News Service
