|
| Background |
Yanbu National Petrochemicals Company (YansabYansab ) plans to construct a 4 million t/y petrochemical complex in Yanbu Industrial City, Saudi Arabia.
The complex will produce ethylene, propylene, polyethylene, ethylene glycol and other petrochemicals.
The project's major objective is to provide high-quality and value-added products to boost the nation's domestic industrial production, as well as strengthen the company's competitive capabilities in global markets.
Foster WheelerFoster Wheeler is the PMC for the whole project. |
| Latest Events |
On 14 July 2009, the complex was officially inaugurated and commercial operations started. |
| Previous Events |
In Q4 2008, commissioning of the facilities started.
In 2006, all the major EPC contracts were awarded.
In 2005, the PMC contract for the whole project was awarded to Foster WheelerFoster Wheeler. |
| Scope of Work |
Construction of a petrochemical complex including:
- a 250,000 t/y BTX plant
- a 60,000 t/y butene- 1 facility
- a 400,000 t/y propylene unit
- a 700,000 t/y ethylene glycol facility
- a 400,000 t/y linear low density polyethylene unit
- a 400,000 t/y polypropylene unit
- a 400,000 t/y high density polyethylene unit and other related facilities. |
| Financing Source |
In June 2006, YansabYansab signed financing agreements with lenders to secure funding worth USD3.5 billion
The funding comprises USD1.067 billion from the kingdom’s Public Investment Fund (PIF)Public Investment Fund (PIF), and USD700 million from export credit agencies, with the UK’s Export Credits Guarantee Department providing around USD150 million worth of cover and Italy’s SACE providing USD 550 million. The remaining USD1.733 billion came from 19 international, regional and local banks with an Islamic tranche making up USD850 million and a commercial tranche comprising the remainder.
ABN AmroABN Amro and Saudi Hollandi BankSaudi Hollandi Bank are the financial advisers and underwrote the bank facility. |
| Contract Packages |
| Type |
Project Name |
Contract Value |
 |
Yansab - Yanbu Olefins Complex - Benzene Toluene Xylene (BTX) Plant |
USD 150,000,000 |
|
Yansab - Yanbu Olefins Complex - Ethane/Propane Cracker |
USD 1,000,000,000 |
|
Yansab - Yanbu Olefins Complex - Ethylene Glycol (EG) Plant |
USD 400,000,000 |
|
Yansab - Yanbu Olefins Complex - High Density Polyethylene (HDPE) Plant |
USD 400,000,000 |
|
Yansab - Yanbu Olefins Complex - LLDPE and PP Plant |
USD 400,000,000 |
|
Yansab - Yanbu Olefins Complex - Offsites & Utilities (O&U) Package |
USD 700,000,000 |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| 2005 |
PMC | Contract awarded to Foster WheelerFoster Wheeler
|
| May 2005 |
EPC | Contract awarded to Technip - Ethane
Propane Cracker
|
| Jun 2005 |
EPC | Contract awarded to Fluor Corporation - Offsites & Utilities Package
|
| Sep 2005 |
EPC | Contract awarded to JV of Aker Kvaerner and Sinopec - LLDPE and PP Package
|
| Dec 2005 |
EPC | Contract awarded to Toyo Engineering Corporation - EG Package
|
| Feb 2006 |
EPC | Contract awarded to Shaw Group - HDPE Package
|
| Apr 2006 |
EPC | Contract awarded to Shaw Group - BTX Package
|
| Q4 2008 |
Completion | Project was expected to be completed | | | Commissioning | Commissioning started
|
| 14 Jul 2009 |
Completion | Project was completed
|
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