Samsung Engg awarded US$341 mln contract for PP plant at Al-Jubail

Samsung Engineering has been awarded an additional procurement and construction contracts by Saudi Kayan Petrochemical. The contract, worth US$341 mln is to build a polypropylene (PP) plant as part of a new petrochemicals complex at Al-Jubail. The 350,000 tpa project, which would be based on Basell's technology, would be completed by the end of August 2009. The PP plant will form part of Saudi Kayan's US$10 bln petrochemicals complex at Al-Jubail, which is slated to make 4 mln tpa of chemicals, including propylene, PP, ethylene glycol and butane-1. The previous US$49 mln engineering contract for the project had been converted to a lumpsum turnkey basis. This is the first of seven projects at Kayan to be converted. Saudi Basic Industries Corp (SABIC) owns a 35% stake in Saudi Kayan, while Kayan has 20%. The remaining 45% is held by public shareholders.
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