SIPCHEM commences the trial run of cable-insulation polymers plant

03/03/2014 Argaam

The Saudi International Petrochemical Company (SIPCHEM) announced today the commencing of trial operations of cable insulation polymers plant in Jubail Industrial City.

The project is owned by Gulf Advanced Cables Insulation Company (a SIPCHEM affiliate) and has a total estimated cost of SAR 230m, financed by partners.

“The plant is a part of Third Phase Development Program of SIPCHEM projects and will produce cable insulation polymers used for fabricating electrical cable insulation materials”; the company said in its filing to tadawul.

The raw materials required for the project are Low density polyethylene (LDPE) and Ethylene Vinyl Acetate (EVA) that will be acquired from International Polymers Company (IPC) (a SIPCHEM affiliate).

Gulf Advanced Cables Insulation Company, a joint venture owned by SIPCHEM and Korea-based Hanwha Chemicals Company, is to market the products in the Middle East and Europe. The financial impact will be reflected after starting commercial operation.

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