Sipchem in Brief
Saudi International Petrochemical Company (Sipchem) is a Saudi Company listed in Saudi Stock market. The company was established on December 22, 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.
Under Phase-I, Sipchem developed two operating affiliates : (i) International Methanol Company (IMC) that produces 1,000,000 metric tons Methanol (ii) International Diol Company (IDC) that produces 75,000 metric tons of Maleic Anhydride, Butanediol and derivatives, per annum.
Under Phase-II, three more affiliates were developed : (i) International Gases Company (IGC) that produces 345,000 metric tons of Carbon Monoxide, (ii) International Acetyl Company (IAC) that produces 460,000 metric tons of Acetic Acid and Acetic Anhydride, and (iii) International Vinyl Acetate Company (IVC) that produces 330,000 metric tons of Vinyl Acetate Monomer, per annum.
As part of Phase-III, Sipchem established a new petrochemical company, namely International Polymers Company (IPC) that will produce 300,000 metric tons of Ethylene Vinyl Acetate (EVA) and other products per annum. The SR 4 billion (US$ 1.1 Billion) 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 2.8 million metric tons of various products some of which to be produced for the first time in the Middle East.
Sipchem is in the process of establishing a corporate Product & Application Development
Centre [PADC] at the Dhahran Techno-Valley in the Eastern Province of the Kingdom that is planned to open in 2012.
Sipchem was placed among the top 10 companies with “Best Work Environment” in Saudi Arabia for three years in a row starting 2007 according to surveys conducted by an independent consultant. Sipchem aims to be the preferred employer that provides the best working environment in the region.
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 standards without compromising its commitment to the environment and the safety of its employees and the community.
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