Saudi European Petrochemical Company, Ibn Zahr, an affiliate of the Saudi Basic Industries Corporation (Sabic), has signed a Letter of Intent (LOI) with Daelim Industrial Company, South Korea, for the engineering, procurement and construction management services of utilities and off-site facilities for its Polypropylene 3 Plant (under construction) in Al Jubail, Saudi Arabia.
The new facilities are estimated to be complete in conjunction with the main Polypropylene 3 Plant, by Q2-2008.
Ibn Zahr was Sabic's first joint venture with European companies. Sabic has 80% stake in the company and Ecofuel of Italy and the Arab Petroleum Investment Corporation (Apicorp) own 10% each. Ibn Zahr is one of the world's largest producers of MTBE with an annual capacity of 1.6 million metric tons and 640,000 mtpa of polypropylene.
19-Jul-06 
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