Sipchem in Brief
Saudi International Petrochemical Company (Sipchem) is a Saudi Company listed in Saudi Stock market. The company was established on 22/12/1999, with a current paid in capital of SR 3.3 billion (US$ 880 million).
Sipchem actively develops and invests in petrochemical and chemical industries, both basic and intermediate to produce chemicals used to manufacture a multitude of products that improve the lives of people worldwide.
Through its affiliates, International Methanol Company (IMC) and International Diol Company, Sipchem currently produces over one million mtpa of methanol and 75 thousand mtpa of butanediol.
For the attainment of sustainable growth according to a special strategy that links the company's present with its future, Sipchem continuously explores the prospects of development and renovation to facilitate the process of desired growth and expansion. In the second half of 2006, Sipchem started construction of a major Acetyls Complex which consists of Acetic Acid plant (460 thousand mtpa), Vinyl Acetate Monomer plant (330 thousand mtpa) and Carbon Monoxide plant (345 thousand mtpa). Commercial operation of these plants is scheduled to start in the last quarter of 2009.
As part of Phase-III, Sipchem signed agreements to establish a new petrochemical company in Jubail Industrial City. The new company will produce 200.000metric tons of Ethylene Vinyl Acetate (EVA) and 125.000 metric tons of Polyvinyl Acetate (PVA) per annum. The plants will be constructed on Sipchem site in Jubail with an estimated total cost of 4 billion Saudi Riyals (1.1 Billion US dollars). The project is scheduled to start in 2013.
Sipchem investments will reach 13 Billion Saudi Riyals by the end of the year 2013 A.D. and the total production will reach 5.2 million metric tons of various products some of which to be produced for the first time in the Middle East.
The launch of these additional facilities demonstrates the company's aggressive expansion program, which aims to make it one of the largest, fully-integrated, petrochemical complexes in the Middle East, owned and operated by the private sector.
In conducting its activities, Sipchem maintains strict adherence to the highest product quality standard without compromising its commitment to the environment and the safety of its employees and the community.
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