| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 341,000,000 |
| Sector |
: |
Petrochemicals | Olefins & Aromatics |
|
Consultant |
: |
Fluor Arabia Limited
(FEED) |
|
PMC |
: |
Fluor Arabia Limited
|
|
Contractor |
: |
Samsung Saudi Arabia Company Limited
(EPC) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (9) |
|
| Completed
|
|
Completion: Mar 2011
|
|
|
|
| Background |
Saudi Kayan Petrochemical CompanySaudi Kayan Petrochemical Company plans to build a polypropylene plant as part of its petrochemical complex being developed in Al Jubail Industrial City, Saudi Arabia.
Propylene feedstock will be provided from the ethane-butane cracker at the complex.
Basell is the technology provider.
Fluor CorporationFluor Corporation is the PMC and FEED study consultant. |
| Latest Events |
In March 2011, commercial production started. |
| Previous Events |
In January 2011, trial operations at the plant were ongoing.
In August 2010, trial production at the plant started.
In Q2 2008, construction of the plant started.
In February 2008, the construction contract was awarded to Samsung EngineeringSamsung Engineering and Construction company.
In January 2007, the E&P contract was awarded to Samsung EngineeringSamsung Engineering.
In October 2006, the ITB for the EPC contract was issued.
In June 2005, the FEED contract was awarded to Fluor CorporationFluor Corporation for the whole project.
In May 2005, the PMC contract was awarded to Fluor CorporationFluor Corporation for the whole project. |
| Scope of Work |
Construction of polypropylene plant (PP) with a capacity of 350,000 t/y and associated facilities. |
| Financing Source |
In August 2010, Saudi KayanSaudi Kayan announced it secured a seven-year, USD 1.2 billion loan from National Commercial Bank (NCB), to cover part of USD 2.5 billion in cost increases in building the project. The terms of the loan were not revealed by the company.
In July 2010, Saudi KayanSaudi Kayan was in the process of securing USD 2.5 billion loan that represents the 24% project cost increase.
In December 2008, Saudi KayanSaudi Kayan signed the last part of the USD 6 billion financing contract with Saudi Industrial Development Fund for a value of USD 533 million.
In May 2008, Saudi KayanSaudi Kayan signed a USD 6 billion financing contract with a group of banks and financial institutions for a period of 15 years.
In February 2008, the Public Investment Fund (PIF)Public Investment Fund (PIF) approved a loan worth USD1.068 billion (SAR4 billion) to Al Kayan Petrochemical CompanyAl Kayan Petrochemical Company to finance part of the project.
In May 2007, Saudi KayanSaudi Kayan raised USD 6 billion in loans to part-finance the project. The company will get USD 1 billion from the government's Public Investment Fund,Public Investment Fund, while the rest is arranged by Samba Financial GroupSamba Financial Group, Arab Banking Corporation, BNP ParibasBNP Paribas and HSBC Saudi ArabiaHSBC Saudi Arabia. The duration of the loan will be 15 years.
In May 2007, Saudi KayanSaudi Kayan offered an initial public offering (IPO) for a 45 % stake in its capital. |
| Contract Packages |
| Type |
Project Name |
Contract Value |
 |
Saudi Kayan - Jubail Petrochemicals Complex |
USD 12,500,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Natural Alcohol Detergent Plant |
USD 130,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Amines Plant |
USD 400,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - EO/EG Plant |
USD 500,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - HDPE Plant |
- |
|
Saudi Kayan - Jubail Petrochemicals Complex - LDPE Plant |
USD 426,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Offsites and Utilities |
USD 600,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Phenolics Complex |
USD 1,200,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Polycarbonate Plant |
USD 1,300,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Storage Tanks |
USD 79,000,000 |
|
| Project News |
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