Joint Ventures Saudi Polymers Starts Production
Saudi Polymers (SPCo), a joint venture of Saudi Arabia's National Petrochemical Company and Chevron Phillips Chemical, starts up production in commercial scales at its petrochemicals facility in Al-Jubail. At one of the largest petrochemicals complexes, the company produces ethylene, propylene, polyethylene, styrene and hexene.
Al Jubail/Saudi Arabia – “This is an exciting time for the SPCo team, and we are proud to report we have safely achieved start-up and commercial production for our new facilities,” said Mike Zeglin, executive president of Saudi Polymers Company. “We will now be working to fill the critical inventory targets needed to ensure our long-term reliability as a supplier of quality products."
Production Start at World–Scale Petrochemical Complex
The integrated SPCo petrochemicals complex includes world-class operating units that are capable of producing Ethylene (1.220 million tons per year), Propylene (440,000 tons per year), Polyethylene (1.1 million tons per year), Polypropylene (400,000 tons per year), Polystyrene (200,000 tons per year) and 1-Hexene (100,000 tons per year). In addition to direct sales to serve local Saudi demand, SPCo will manufacture products to serve growing world demand outside the Kingdom of Saudi Arabia through its exclusive distributor, Gulf Polymers Distribution Company, utilizing Chevron Phillips Chemical’s global marketing network.
Joint Venture for Petrochemicals in Saudi Arabia
SPCo is a limited liability company incorporated in the Kingdom of Saudi Arabia that is owned 65 percent by Petrochem, a joint-stock company incorporated in the Kingdom of Saudi Arabia and 35 percent by Arabian Chevron Phillips Petrochemical Company (ACP), a wholly-owned subsidiary of Chevron Phillips Chemical. Construction for the company's production facilities at Al Jubail began in in January 2008, having since created approximately 950 jobs, speakers say.
The awakening industry in the Middle East needs 100 additional Gigawatt of energy within the next 10 years, market analysts expect. And the Arabian countries are known for thinking big–scale: Currently, 113 power, water and energy projects are planned for the region worth a total of 180.4 billion US $.
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