| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 1,200,000,000 |
| Sector |
: |
Petrochemicals | Olefins & Aromatics |
|
Consultant |
: |
Fluor Arabia Limited
|
|
Contractor |
: |
Tecnicas Reunidas Gulf
(EPC) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (9) |
|
| Completed
|
|
Completion: 02 Mar 2011
|
|
|
|
| Background |
Saudi KayanSaudi Kayan plans to construct a phenolics plant as part of its petrochemical complex being developed in Al Jubail Industrial City, Saudi Arabia.
Badger is the technology license provider for the isopropylbenzene and bisphenol units.
KBRKBR is the technology license provider for the phenol unit.
Benzene and propylene feedstock will be provided to the isopropylbenzene plant from Saudi Kayan'sSaudi Kayan's complex cracker.
Fluor CorporationFluor Corporation is the FEED consultant. |
| Latest Events |
On 2 March 2011, commercial production started. |
| Previous Events |
In December 2010, trial operations at the plant started.
In August 2010, commissioning of the plant was ongoing.
In April 2010, pre-commissioning of the plant was in progress.
In March 2010, pre-commissioning of the plant started.
In January 2009, the contract was converted into a lump sum agreement.
In February 2007, the EPC contract was awarded to Tecnicas ReunidasTecnicas Reunidas.
In January 2007, bidders submitted their proposals for the EPC contract.
In October 2006, 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:
- an 290,000 t/y isopropylbenzene unit,
- a 220,000 t/y phenol plant,
- a 240,000 t/y bisphenol A facility
- an 71,000 t/y acetone recovery unit. |
| 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) approved a loan worth USD1.068 billion (SAR4 billion) to Al Kayan Petrochemical CompanyAl 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 Fund, while the rest is arranged by Samba Financial Group, Arab 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 - Offsites and Utilities |
USD 600,000,000 |
|
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 |
|
|
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Talk To Zawya Analyst
Download to PDF