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SABIC signs Letter of Intent with the US Fluor Company - ASHARQ AL-AWSAT English Archive
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31/5/2005

Saudi Basic Industries Corporation (SABIC) today signed a letter of intent with the US Fluor Company to construct utilities and site facilities at the SABIC affiliate, Yanbu National Petrochemicals Company (YANSAB) in Yanbu.

The LOI was signed in the presence of Mohamed Al-Mady, SABIC Vice Chairman & CEO, by Abdulrahman Al-Fageeh, President YANSAB, for SABIC, and Mr. David Seaton, Fluor Sr. Vice President, Chemical Products Business Line, Energy and Chemicals Group, for the Fluor Company.

Mohamed Al-Mady said, ”The utilities and site facilities are the largest units of the YANSAB complex and are vital for feeding the various complex plants with water, power supplies, steam and chilled water.

”I expect that these works will be completed within 34 months. Completion of the complex mechanical works is expected during 1Q2008. Initial annual production capacity will go beyond 4 million MTY of petrochemical products which will strengthen SABIC”s contribution to national development plans and boost its competitive capabilities in the global markets.

”YANSAB will apply the latest state-of-the-art and cutting-edge technologies in its production operations including Scientific Design Ethylene Glycol technology, 50% owned by SABIC and 50% by German Sud Chemi. It will also use Butene-1 technology developed by SABIC in cooperation with the French Petrol Institute. In addition, the complex will apply for first time a new technology for the manufacture of HDPE and other technologies for conversion of pure aromatic compounds into Benzene.

”Once operational, this mega project will employ 1,500 employees, benefiting Saudi citizens.”

YANSAB will be one of the world”s largest plants. It will produce 1.3 million MTY of Ethylene; 400,000 MTY of Propylene; 900,000 MTY of High Density Polyethylene (HDPE) and Low Density Polyethylene (LLDPE); 400,000 MTY of Polypropylene (PP); 700,000 MTY of Mono Ethylene Glycol (MEG); 250,000 MTY of Benzene, xylene and toluene compound. The complex will manufacture a wide range of basic chemical, intermediate and polymer products.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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