SABIC $840m Acrylics Plants

Saudi Methacrylates, a 50:50 joint venture of Saudi state-owned petchems giant SABIC and Japan’s Mitsubishi Rayon (MRC), has awarded an engineering, procurement and construction (EPC) contract to Taiwan’s CTCI for a methyl methacrylate (MMA) monomer plant and linked polymethyl methacrylate (PMMA) plant at Jubail. SABIC estimates the total cost of the plants at SR3.15bn ($840mn).

SABIC originally envisaged a 2013 start-up, but says “the process of preparing the fundamental engineering designs and concluding the procurement agreements took longer than scheduled.” Engineering work began last month and mechanical completion is due in 1Q17. “The commissioning of the joint venture is expected to begin in 2Q17 for about six months, after which commercial operations will start,” SABIC adds. (CONTINUED - 282 WORDS)