KSA Business: SGC lands $191m EPC contract for Advanced petchem plant gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
Leading South Korean construction group SGC eTEC E&C and its regional arm SGC Arabia have secured an EPC contract worth $191.2 million from Saudi-based Advanced Petrochemical Company for its isopropanol plant coming up in the kingdom s eastern province.
Saudi-based Advanced Petrochemical Company has announced that one of its subsidiaries has signed SR6.1 billion ($1.62 billion) sharia-compliant agreements with a consortium of banks to fund the construction of three petrochemical plants in Jubail region.
Saudi group Advanced Petchem inks US, Japan sales agreements
RIYADH, December 29, 2020 Saudi-based Advanced Petrochemical Company, a key manufacturer of polypropylene products, said its subsidiary, Advanced Global Investment Company (AGIC), has signed off-take agreements for the sale of polypropylene with two US-based groups - Vinmar International and Tricon Dry Chemicals - and Mitsubishi Corporation of Japan. As per the long-term deal, AGIC will supply 250,000 metric tonnes per annum of polypropylene each to Vinmar and Tricon Dry Chemicals, while Mitsubishi will get 120,000 MT, stated Advanced Petrochemical Company in its filing to Saudi Tadawul. The supply of the entire polypropylene stock will be done from its Advanced Polyolefins Company (APOC) facility in Jubail Industrial City set up as a joint venture with South Korea’s SK Gas Petrochemical, it stated.
KSA Business: Saudi group Advanced Petchem inks US, Japan sales agreements gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.