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Since its inception in late 1999, Sipchem has witnessed progress and development in all fields. The two affiliates started under the Phase-I development, International Methanol Company (IMC) and International Diol Company (IDC) are successfully producing methanol and butanediol. Currently Sipchem is commissioning three companies under Phase-II development namely: The International Acetyl Company (IAC),the International Vinyl Acetate Company(IVC) and the International Gases Company (IGC)
As part of Phase-III, Sipchem signed a joint venture agreement with the Korean Company Hanwa Chemicals 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 projects are scheduled to start production by the end of in 2013.
Sipchem is committed to conservation, sustainable development and safe resource management, thereby strives to maintain harmonious balance between man and nature by adhering to the relevant national and international laws and standards of safety and environmental preservation. No wonder Sipchem completed 9 million man-hours without any lost time injury in July, 2009.
Sipchem is aware of its responsibility and vital role towards its community. This is clearly manifested in Sipchem’s regular support to various charitable and social organizations.
Sipchem considers its employees as the most important asset. We have maintained our commitment to attract and retain talented individuals. At the same time, considerable effort goes into training the next generation to operate our company. Saudi employees now total 63% of the work force of the Company.
Finally, I would like to express my thanks and appreciation to our Board of Directors, shareholders, employees, partners, and contractors who have been part of this success story.
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