SABIC to start today construction work of its polyacetal plant in Ibn-Sina complex

20/04/2014 Argaam

Saudi Arabian Basic Industries Corp. (SABIC) started on April 20 construction work of its polyacetal plant in Ibn Sina complex which is scheduled to be completed in the 1st quarter of 2016, the company said in a statement to the Saudi bourse, Tadawul.

 

SABIC has awarded Spanish company Dragados a $387 million contract to build the 50,000 tons-a-year polyacetal plant at Ibn Sina complex in al-Jubail Industrial City, according to Argaam.

 

Trial operation is expected to start in the second quarter of 2016, followed by commercial operation in the 4th quarter of 2016. The financial impact of the project will be reflected after the commercial operation starts. 

 

Ibn Sina, or National Methanol Co., is 50-percent owned by SABIC. Celanese Corp and an affiliate of Duke Energy Corp each own a 25 percent stake.

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