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Sipchem set to begin output at new plastics plant

DUBAI, March 30, 2015

A unit of Saudi International Petrochemical Company (Sipchem) will start commercial operations at its ethylene-vinyl acetate (EVA) and low-density polyethylene plant on Wednesday, Sipchem said.

Last year, Sipchem started testing the SR3 billion ($800 million) plant in Jubail, which is owned by International Polymers Company (IPC).

This will make 200,000 tonnes per year of polyethylene and EVA, which are two forms of plastics used in packaging and as a component in other products.

The plant is 75 per cent owned by Sipchem. South Korea's Hanwha Chemicals Corp owns the rest.

The impact of the plant's production will be reflected in Sipchem's second-quarter results, it said in a statement on Monday.

In December last year, Sipchem started testing another EVA plant in Hail, which it also shares with Hanwha Chemicals Corp.  - Reuters




Tags: petrochemical | sipchem | Shutdown |

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