Mitsui to Join Sipchem Venture in Saudi Arabia

Mitsui & Co. and Saudi International Petrochemical Co. (Sipchem; Riyadh) are working on a memorandum of understanding for Mitsui to take a stake in Sipchem’s previously announced $7-billion petrochemical project at Al Jubail, Saudi Arabia, local sources say. Sipchem recently appointed Worley Parsons (Houston) to manage construction of the complex, which will be based on an ethane- and propane-fed cracker producing a combined 1.3 million m.t./year of ethylene and propylene. It will supply feedstock to downstream units producing polyethylene and...

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