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World News and Views :: Projects

Sipchem, Hanwha to form plastics-conversion JV

1:00 PM MDT | July 23, 2013 | Ian Young

Saudi International Petrochemical Co. (Sipchem; Al Khubar) has agreed to form a joint venture with Hanwha Chemical (Seoul) that will build two plastics-conversion plants in Saudi Arabia. The plants will convert plastics produced by International Polymers Co. (IPC), a previously announced jv between Sipchem and Hanwha. Sipchem will have a 75% stake in the new jv, Saudi Specialty Products Co. (SPPC), and Hanwha will hold the rest. IPC is also a 75-25 jv between Sipchem and Hanwha. SPPC will build a plant at Hail to produce 4,000 m.t./year of ethylene vinyl acetate...

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