SIPCHEM LINKS WITH HANWHA IN $1.1-BILLION JOINT VENTURE

摘要

Saudi International Petrochemical Co (Sipchem) and Hanwha Chemical have signed an agreement to establish a petrochemical joint venture (JV) at Al Jubail, Saudi Arabia. The jv will be owned 75% by Sipchem and 25% by Hanwha. They are expected to begin production by the end of 2013. Sipchem has two affiliates, one of which produces methanol and the other butanediol. The jv with Hanwha is part of a much larger investment program planned by Sipchem with an estimated total cost of $4 billion-$5 billion.