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Oil, Gas, Petrochemical Industry News
News Release from: SABIC
Edited by the Processingtalk Editorial
Team on 12 December 2005
Further contracts for Yansab plants
SABIC signs contracts with Technip of Italy for ethylene and propylene plants, and Toyo Engineering of Japan for an Ethylene Glycol plant at Yansab
Saudi Basic Industries Corporation (Sabic) has signed a contract with Technip Italy for the engineering, procurement and construction of an ethylene and propylene plant at the Yansab Complex in Yanbu Industrial City, on the Red Sea coast of Saudi Arabia Sabic has also signed a contract with the Japanese Toyo Engineering Corporation (TEC) for the engineering, procurement and construction of an Ethylene Glycol plant at the same site
This article was originally published on Processingtalk on 18 Jul 2003 at 8.00am (UK)
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The two contracts were signed by Yousef Al-Zamel, Vice President, Basic Chemicals, and Chairman of Yansab on behalf of Sabic, Mr Nello Uccelletti, CEO, Middle East and South East Asia on behalf of Technip Italy and Mr Kenji Soejima for TEC in the presence of Mr Mohamed Al-Mady, Sabic Vice Chairman and CEO and Mr Yutaka Yamada, TEC President and CEO.
Mr Al-Mady said: "The signing of these two contracts is a significant boost towards the major implementation of operations at the Yansab affiliate which is expected to become one of the world's largest petrochemical industrial complexes.
It will enhance the Sabic competitive capabilities with production starting in 2008".
Yansab is the most recent Sabic affiliate in Saudi Arabia and will be the Sabic largest petrochemical complex with an annual capacity exceeding 4 million metric tons (MT) of various petrochemical products including: 1.3 million MT of Ethylene; 400,000 MT of Propylene; 900,000 MT of Polyethylene; 400,000 MT of Polypropylene; 700,000 MT of Ethylene Glycol; 250,000 MT of Benzene, Xylene and Toluene, and 100,000 MT of Butene-1 and Butene-2.
Yansab is expected to employ 1,500 people in phase I and phase II.
This will create promising job opportunities for Saudis.
Yansab uses the latest world-class state-of-the-art technologies in its plants, including Sabic license-owned technologies such as the new high-tech process of converting aromatic compounds to benzene and the production of polyethylene.
Sabic owns 55% of Yansab capital.
Sabic affiliates Ibn Rush and TAYF hold 10% of Yansab capital.
Sabic has announced plans to allocate the remaining 35% for public subscription.
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