JUBAIL - Saudi Polymers Company (SPCo), a joint venture between Chevron Phillips Chemical Company LLC and National Petrochemical Company, has started commercial production, the company said in a statement Tuesday.
"This is an exciting time for the SPCo team, and we are proud to report we've 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."
The integrated SPCo petrochemicals complex includes world-class operating units that are capable of producing ethylene (1,220 kmta), propylene (440 kmta), polyethylene (1,100 kmta), polypropylene (400 kmta), polystyrene (200 kmta) and 1-hexene (100 kmta).
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.
SPCo, which began construction in January 2008, has created approximately 950 jobs, with a high percentage being occupied by Saudi nationals.
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 Saudi Arabia and 35 percent by Arabian Chevron Phillips Petrochemical Company (ACP), a wholly-owned subsidiary of Chevron Phillips Chemical.
Chevron Phillips Chemical is one of the world's top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins.
The LLC and its affiliates own more than $9 billion in assets and employ approximately 4,700 people at 42 manufacturing and research facilities in eight countries. Chevron Phillips Chemical Company LLC is equally owned by Chevron Corporation and Phillips 66, and is headquartered in The Woodlands, Texas.
© The Saudi Gazette 2012
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