2005 News Story

Italian company to build petrochemical plant in Yanbu

Saudi Basic Industries Corporation (SABIC) has announced that ‘Technip-Italy’ has won a contract for the construction of an ethylene and propylene plant in the industrial city of Yanbu on the Red Sea. The plant will be capable of producing 1.3 million tons of ethylene and 400,000 tons of propylene a year, using ethane and propane as feedstock.

Last week, SABIC announced plans to spend U.S. $8 billion over the next three years to increase production of basic petrochemicals, intermediates and polymers. In 2004, SABIC’s output totaled 42.9 million tons, and profits doubled to $3.8 billion.