Covering an area of 66 square kilometers, the new city in Yanbu (Yanbu-2) it is expected to contain 34 basic and secondary industries and 224 light industries. The new industrial city is expected to be complete by 2019, will include industrial projects worth SR 115 billion. With this, total investments in Yanbu will cross SR 200 billion.
SABIC will implement the largest of these projects at an investment outlay of SR 28 billion.
* An investment of SR 9 billion will be towards the new SABIC projects Yanbit-II, owned by SABIC and ExxonMobil with a production capacity of 4 million tpa of ethylene, polypropylene, polyethylene and ethylene glycol.
* Another project, 70% owned by SABIC, is the Industrial Gases National Company factory (second phase). The balance 30% is owned by a group of national companies and produces 900 tons daily of oxygen and nitrogen, which began operating this year.
* In the SR19 billion Yansab, Yanbu National Petrochemical Company, SABIC owns 55% stake, and 10% stake is held by 17 Saudi and Gulf companies. 35% of the capital will be floated in an IPO very shortly, for the project, which is to be completed by the end of 2007. The project will have a production capacity of over 4 million tons annually of ethylene, propylene, polyethylene, polypropylene, ethylene glycol, benzene, toluene, butane, and xylene. It will and will employ 1500.
15-Jul-05 
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