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GS wins Saudi petrochemical contract

Hydrocarbon Engineering,

South Korea’s GS Engineering and Construction has won a contract for the construction of a petrochemicals plant with Saudi Arabia’s Saudi International Petrochemical Company (Sipchem). Saudi Arabia continues to increase its investment in petrochemicals as it seeks to lessen its dependence on crude oil revenues.

The new plant in Al-Jubayl will have a capacity of 200 000 tpy, and is due for completion in 2013. The new will produce ethylene vinyl acetate and low density polyethylene. The project is predicted to cost approximately US$ 800 million.

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