| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 600,000,000 Estimated |
| Sector |
: |
Petrochemicals | Olefins & Aromatics |
|
Consultant |
: |
Fluor Arabia Limited
(FEED) |
|
PMC |
: |
Fluor Arabia Limited
|
|
Contractor |
: |
Fluor Arabia Limited
(EPC) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (9) |
|
| Completed
|
|
Completion: Oct 2010
|
|
|
|
| Background |
Saudi KayanSaudi Kayan plans to construct the offsites and utilities package as part of its petrochemical complex being developed in Al Jubail Industrial City, Saudi Arabia.
Fluor CorporationFluor Corporation is the FEED consultant and the PMC. |
| Latest Events |
In October 2010, the project was completed (delayed from 2009). |
| Previous Events |
In February 2010, construction of the utilities was in progress.
In Q2 2007, construction of the utilities started.
In November 2006, the EPC contract was awarded to Fluor CorporationFluor Corporation.
In July 2006, Saudi KayanSaudi Kayan and Fluor CorporationFluor Corporation signed a letter of intent (LOI) for the EPC contract.
In June 2005, the FEED contract was awarded to Fluor CorporationFluor Corporation for the whole complex.
In May 2005, the PMC contract was awarded to Fluor CorporationFluor Corporation for the whole complex. |
| Scope of Work |
Infrastructure works including:
- Piping
- Roads
- Housing
- Utilities and fencing |
| Financing Source |
In August 2010, Saudi KayanSaudi Kayan announced it secured a seven-year, USD 1.2 billion loan from National Commercial BankNational 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 FundPublic Investment Fund (PIF) approved a loan worth USD1.068 billion (SAR4 billion) to Al Kayan Petrochemical Company to finance part of the project. A financial closure is expected in May 2008.
In May 2007, Saudi KayanSaudi Kayan raised USD6 billion in loan to part-finance the project. Kayan will get USD 1 billion from the government's Public Investment FundPublic Investment Fund, while the rest is arranged by Samba Financial Group, Arab Banking CorporationArab Banking Corporation, BNP ParibasBNP Paribas and HSBCHSBC Saudi Arabia. Sabic has planned to complete the financing by end of 2007 or early 2008. 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 - Phenolics Complex |
USD 1,200,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Polycarbonate Plant |
USD 1,300,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Polypropylene Plant |
USD 341,000,000 |
|
Saudi Kayan - Jubail Petrochemicals Complex - Storage Tanks |
USD 79,000,000 |
|
| Project News |
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Contract Project
|
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