Sipchem targets trial operations of several plants in 2015; sees lower petchem prices

Saudi International Petrochemical Co. (Sipchem) said it plans to launch pilot operations of its polybutylene terephthalate (PBT) this year.

The project belongs to the company’s 95 percent-owned Sipchem Chemicals Co.

The bourse-listed petrochemical producer is also planning to expand its International Diol Company (IDC) this year.

In its board report for 2014, Sipchem said several of its plants had already launched pilot operations, and will start commercial services after equipment is tested for safety and efficiency.

Sipchem pointed out in its report that it expects to see relatively lower petrochemical prices this year. The Saudi-based company focuses mainly on accessing new markets in Europe and Asia.

The total output of its existing plants reached 2.1 million tons in 2014, with a 9 percent decline year-on-year, compared to 2.3 million tons. The drop was attributed to the temporary shutdown of some facilities for scheduled maintenance.

The company has not yet reported its sales for 2014.