Sipchem inks SAR 701.2M EPC contract for plant expansion

02/07/2024 Argaam

Sipchem inks SAR 701.2M contract for EVA plant expansion

One of Sipchem plants

Sahara International Petrochemical Co. (Sipchem) awarded engineering, procurement and construction (EPC) contract to SGC E&C Co. Ltd. and SGC Arabia Co. Ltd. for the expansion of the ethylene vinyl acetate (EVA) plant, for $187 million (SAR 701.25 million), according to a statement to Tadawul.
 
 

Under the 40-month contract, the plant production capacity will rise by an additional 70,000 tons (high-grade ethylene vinyl acetate) to approximately 290,000 tons a year.

 

The high-grade ethylene vinyl acetate products contributes to multiple industries, including the manufacture of solar power cell encapsulants and hot melt adhesives, the statement said.

 

The financial impact after the project completion is expected to appear on Q4 2027.

 

Any material development related to this project will be announced, in accordance with the relevant regulations.

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