SAUDI ARABIA
 
Sipchem-Hanwha EVA/Molds JV
 
Saudi International Petrochemical Company (Sipchem) is forming an ethyl acetate (EA), ethylene vinyl acetate (EVA) and WCC grade steel conversion joint venture, Saudi Specialty Products Company, with South Korea’s Hanwha Chemicals (Sipchem 75%, Hanwha 25%). Total investment will be SR225mn ($60mn).
Sipchem says the JV will operate two manufacturing plants: a 4,000 tons/year EVA film plant at Hail, and one at Riyadh...