London, Asharq Al-Awsat- SABIC affiliate, Eastern Petrochemical Company (SHARQ), has entered into a contract with the Korean Samsung Engineering Company for the engineering, supply and construction of an Ethylene Glycol (EG) plant with an annual production capacity of 700K MT. This forms part of SHARQ”s third Expansion Project at Jubail Industrial City. Completion of this project is expected by 2008.
Dr. Abdulaziz Al-Jarboo, SHARQ Chairman, on behalf of SHARQ and Mr. Yeon-Joo Jung, CEO, for Samsung Engineering Co., signed the contract.
SHARQ is a joint venture equally owned by Saudi Basic Industries Corporation (SABIC) and SPDC Ltd, a Japanese consortium led by the government of Japan and a consortium of companies led by Mitsubishi. The initial phase of production went on stream in 1985. The SHARQ complex then saw two expansion projects in 1993 and 2001 respectively. Currently a third expansion project is underway to add 2.8 M MT of Ethylene, Linear Low Density Polyethylene (LLDPE) and high-density polyethylene (HDPE).
SHARQ is the world”s largest single EG manufacturing complex. SHARQ is a leading company in the training of Saudi nationals. Saudization now stands at 97%.