Saudi International Petrochemical Company ((SipchemSipchem)’s affiliate the International Polymers Company has awarded the Engineering Design, Procurement and Construction (EPC) contract for an Ethylene Vinyl Acetate (EVA) plant to G.S. Engineering & Construction Corporation- Korea. The new plant to be located in Jubail Industrial City is planned with an annual production capacity of 200,000 tons of Ethylene Vinyl Acetate (EVA) and Low Density Poly Ethylene (LDPE). Operations are expected to commence in Q2-2013, at the plant that is part of Sipchem's third expansion phase. The International Polymers Company founded in the year 2009, is owned 75% by SipchemSipchem and 25% by Hanwha Chemicals. This will be the regions first to produce EVA. Sipchem has a technology licensing agreement with ExxonMobil for the project.