SGC lands $191m EPC contract for Advanced petchem plant
RIYADH, February 19, 2024
Leading South Korean construction group SGC eTEC E&C Company and its regional arm SGC Arabia have secured an EPC contract worth $191.2 million from Saudi-based Advanced Petrochemical Company for its isopropanol plant coming up in the kingdom's Eastern Province.
Announcing the contract award, Advanced Petrochemical Company said the IPA project is being developed by its key subsidiary Advanced Polyolefins Industry Company in Jubail Industrial City.
With work in full swing, the project is set for completion in 2027. Once operational, the IPA plant will produce 70,000 tonnes per annum with all required off-sites, utilizing the technology provided by thyssenkrupp Uhde Engineering Services.
The production of IPA is part of the kingdom’s downstream industry strategy which is in line with Saudi Vision 2030. IPA is used in variety of industries such as: industrial solvents, medical and cosmetics applications, electronics and other downstream applications, said Advanced Petrochemical Company in a statement.
The financial impact of the project is expected after the commencement of commercial operations likely by Q4 2026.
