Sabic awards EPC contract to Aker Kvaerner and SINOPEC
Posted: 25 July 2005
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Saudi Basic Industries Corporation (SABIC) has signed a Letter of Intent with Aker Kvaerner and China Petrochemical Corporation (SINOPEC) Joint Venture for the engineering, procurement and construction (EPC) of its world-scale Polyolefins complex, in Yanbu , Saudi Arabia .
The annual capacity for the two units is 800,000 MT.
Mohamed Al-Mady, SABIC Vice Chairman & CEO said, “YANSAB is the  newest SABIC affiliate. It is a symbol of our of hard work and team efforts. SABIC owns 55% of and holds 10% of shares with a list of 17 shareholders from local and regional companies. The remaining shares will be made available for public subscription.
“In addition to the PP and LLDPE production capacity, YANSAB is planned to produce 1.3 million tpa of Ethylene; 400,000 tpa of Pr opylene; 500,000 tpa of High Density Polyethylene (HDPE); 700,000 tpa of Mono Ethylene Glycol (MEG); and 250,000 tpa of Benzene, Xylene and toluene compound. The complex will manufacture a wide range of basic chemicals, intermediates and polymer products. This large capacity will strengthen SABIC’s competitive capabilities in global markets.”
SABIC is currently the second largest global Ethylene Glycol producer and is expected to become number one after the introduction of these new projects. SABIC is the third world polyethylene manufacturer and the sixth world polypropylene manufacturer. SABIC is the world’s fourth largest polyolefins manufacturer.
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