Saudi-listed Basic Chemical Industries Company (BCI) announced on Monday it will has finalised a contract worth 15 million euros ($16 million) for the second phase of its chlor-alkali plant in Jubail Industrial City.

In a statement to the Saudi stock exchange, BCI said the contract covers the sale, delivery, and provision of equipment, spare parts, engineering services, and advisory services for the plant's expansion. The agreement also includes a limited, non-exclusive, and non-transferable license to use associated know-how, engineering, and equipment for plant operations.

The total cost of the expansion project is expected to reach 89 million Saudi riyals ($24 million), including construction work and facility services, the statement noted.

(Writing by Nadim Kawach; Editing by Anoop Menon) 

(anoop.menon@lseg.com)

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