Middle East Economic Survey

VOL. LII

No 29

20-Jul-2009

SAUDI ARABIA

Sipchem, Hanwha Chemical Sign Polymer Projects Joint Venture

Saudi International Petrochemical Company (Sipchem) and South Koreas Hanwha Chemical Corporation announced on 12 July that they have signed a joint venture agreement to establish a new petrochemical company at Sipchems site in al-Jubail. The new polymers venture, to be owned 75% by Sipchem and 25% by Hanwha, comprises two operations producing 200,000 tons/year ethylene...