Product category:
Oil, Gas, Petrochemical Industry News
News Release from: SABIC
Edited by the Processingtalk Editorial
Team on 31 May 2005
Yanbu Petrochemicals utilities contract
Saudi Basic Industries Corporation signed a Letter of Intent with the US Fluor Company to construct utilities and site facilities at the SABIC affiliate, Yanbu National Petrochemicals Company in Yanbu
Saudi Basic Industries Corporation (SABIC) signed a Letter of Intent with the US Fluor Corporation 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 and CEO, by Abdulrahman Al-Fageeh, President YANSAB, for SABIC, and Mr David Seaton, Flour Sr Vice President, Chemical Products Business Line, Energy and Chemicals Group, for the Fluor Corporation
This article was originally published on Processingtalk on 18 Jul 2003 at 8.00am (UK)
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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 the SABIC 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, and benefit many 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.
SABIC has recently selected the ABN AMRO Group with Saudi Hollandi Bank as the financial advisor for the YANSAB loan.
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