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Korea firm wins $1bn Saudi chemical plant deal

Riyadh, October 7, 2010

South Korea's STX Heavy Industries said it has signed a $1.1 billion preliminary agreement to build a polysilicon plant and a benzene plant in Saudi Arabia.

A unit of Korean group STX Corporation, the firm said as per the agreement signed with Saudi-based Al-Rajhi Group, it will build these chemical plants at the Yanbu industrial complex by 2014.

One plant will produce an annual 6,000 tons of polysilicon, a major component of solar cells, while the other will make 100,000 tons of linear alkyl benzene used for producing detergent, the company said in a statement.-TradeArabia News Service




Tags: STX Heavy Industries |

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