Sipchem invests $32 mn in ethyl vinyl acetate project in Saudi Arabia

Sipchem invests $32 mn in ethyl vinyl acetate project in Saudi Arabia

9:43 AM, 16th November 2012
Sipchem invests $32 mn in ethyl vinyl acetate project in Saudi Arabia

RIYADH, SAUDI ARABIA: Saudi International Petrochemical Company (Sipchem) announced the groundbreaking of its ethyl vinyl acetate (EVA) films project in Hail Industrial City, Saudi Arabia on 14 November 2012. The project is built with a total investment of about SR120 million ($32 million) on an area of 40,000 m2 with annual capacity of 4,000 metric tonne per annum.

The project is 100 per cent owned by Sipchem Chemicals Company (SCC), an affiliate of Sipchem and its product will be marketed by Sipchems affiliate, Sipchem Marketing and Services Company (SMSC). The project will be financed by the company and other local financers. The project is expected to be operational by the third quarter of 2013.

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