Sipchem preparing for acetyls complex
Saudi International Petrochemical Company (Sipchem) has said it is preparing to build a new acetyls complex in the industrial city of Jubail, eastern Saudi Arabia.
Saudi British Bank and HSBC will be financial advisers for the project, which will include a carbon monoxide plant of capacity 2.65 million tonnes a year. It is expected to start operating in 2008, the company said in a statement.
The advisers will assist in the financial structuring with a view to seeking bids from regional banks this year for project financing, Sipchem said. It declined to say how much the project would cost.
Sipchem’s International Methanol Company began commercial production in December at its methanol plant in Jubail that has a capacity of 1 million tonnes per year.
Sipchem part owns the firm with Japan Arabia Methanol Company, a consortium led by Mitsui.
A Sipchem affiliate is also building a 75,000-tonne butanediol plant in Jubail, which is expected to start production in the fourth quarter of this year.
Bill Ray assumes post
Bill Ray has taken over as CEO of Oman Petrochemicals Industries Company (Opic), a joint venture between the Omani government, Oman Oil Company and Dow Europe Holding BV.
The company was formed on November 30, 2004 to design, build and operate a petrochemical complex in Oman.
Located in the Sohar Industrial Port Area, the complex will comprise feedstock production facilities and a gas cracker as well as three world-scale polyethylene production units based on state-of-the-art catalyst and process technology.
Sadaf awaiting board nod
Saudi Petrochemical Company (Sadaf) is awaiting board permission for the implementation of its new styrene plant called Styrene 3.
“We are hoping that the Sadaf board will give us the green light for this project in the early part of 2005,” said Sadaf president Thamer Al Sharhan.
Styrene will add some 720,000 tonnes of production a year to Sadaf’s existing production of 1.1 million tonnes and will be the largest nameplate styrene plant in the world. Its additional production will make Sadaf one of the world’s largest styrene producers.
