IHS Chemical Week

Regions :: Middle East :: Saudi Arabia

Sipchem, Hanwha Form Wire and Cable Polymers Compounding JV

11:28 AM MDT | April 28, 2011 | Natasha Alperowicz

Saudi Inernational Petrochemical Co. (Sipchem; Al Khobar, Saudi Arabia) and Hanwha Chemical (Seoul) have signed an agreement to create an equally owned joint venture to produce special compounds for the wire & cable industry. The company, Wire & Cable Polymers Compounding Company, will invest SR225 million ($60 million) in a compounding plant at Sipchem's Jubail, Saudi Arabia complex with completion targeted in the second quarter of 2013. The products will be used to make power cable insulation materials and will be marketed by the new company in the...

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