Borouge, the polymer producer, has stated that its third phase plant will be completed on schedule by the end of 2013 and the plant will be fully operational by mid-2014.
Petrochemicals
Sabic posts record Q3 profit
Saudi Basic Industries Corp (Sabic) posted record net profit in the third quarter of US$2.2 billion on the back of increased sales and reduced funding costs.
EPC contract for Polymers Compounding Plant awarded by Sipchem
Gulf Advanced Cable Insulation Company has awarded the Engineering Design, Procurement and Construction (LSTK) contract for the Wire and Cable Polymers Compounding Plant to POSCO Engineering Co, South Korea.
The Royal Commission for Yanbu (RCY) announced that it was building a major refinery on the Red Sea at a cost of US$5.33 billion, adding that it would be ready within three years.
The US$20 billion joint venture Sadara Chemical Co set up by Dow Chemical and Saudi Aramco is expected to deliver US$10 billion in revenues per annum when completed, officials said following the signing of the agreement.
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