Feb 12 2007 |
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Saudi Kayan Signs Contracts
Monday, 12 February 2007RIYADH: SABIC affiliate, Saudi Kayan , has signed two letters of award with the first contract being awarded to Tecnicas Reunidas Group to construct a Phenolics Plant, to produce 240 kta of Bis-Phenol A. The second contract was awarded to Daelim Industrial Co, Ltd. to construct a Polycarbonate (PC) plant to produce 260 kta of PC.
According to a statement issued by SABIC, the letters of award were signed by Abdullah S. Al-Rabeeah, president of Saudi Kayan . Mutlaq Al-Morished, SABIC vice president Corporate Finance and Chairman of Saudi Kayan explained that the company plans to go live in 2009 with an annual capacity exceeding 4 million tons of varied petrochemical products. These products will strengthen SABIC's competitiveness, introduce specialty products for the first time in Saudi Arabia, provide wide opportunities for the growth and diversity of national downstream industries and create promising job opportunities for Saudi citizens.
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