Skip to content Skip to Search
Skip navigation

Advanced unit awards $191m contract for new Saudi petchem plant

Braskem Brazil Reuters/Amanda Perobelli
The new isopropanol plant will have a production capacity of 70,000 tonnes per annum

Advanced Petrochemical Company (Advanced) said its subsidiary has awarded engineering, procurement and construction contracts (EPC) worth $191.3 million for the first isopropanol (IPA) plant in Saudi Arabia.

The plant will be built in Jubail Industrial City and has a production capacity of 70,000 tonnes per annum.

The contracts were awarded to SGC eTEC Company and SGC Arabia Company, the company said in a statement to the Saudi bourse on Sunday.

The work scope includes the construction of the plant with all required off-sites by utilising the technology provided by Germany’s thyssenkrupp Uhde Engineering Services.

The project is slated for completion in 32 months.

The production of IPA will be used in various industries, such as industrial solvents, medical and cosmetics applications, electronics, and other downstream applications.

Latest articles

Despite optimism from hedge funds and traders, oil prices remain relatively stable

Analysts optimistic on oil but the price stays steady

Global hedge funds and money managers have become increasingly optimistic about the short term outlook for oil prices in recent months, despite the oil price remaining flat at around $80 a barrel. The net length held by hedge funds and other money managers in WTI (West Texas Intermediate) futures and options has risen to its […]

Nadhim Zahawi, formerly chancellor of the UK, is thought to be leading a consortium of investors for a £600m bid

UAE’s RedBird IMI hopes for speedy sale of The Telegraph

Nadhim Zahawi, the former chancellor of the UK, is fronting one of seven bids to buy the Daily Telegraph newspaper and The Spectator magazine, which is owned by RedBird IMI, a US investment group backed by Abu Dhabi’s International Media Investments. The deadline for the first round of bidding was completed on Friday, although more offers […]

Egypt external debt

Egypt external debt makes record drop

Egypt’s external debt decreased by over $14 billion between December 2023 and May 2024, the steepest drop on record according to its Central Bank (CBE). External debt fell from a record high of $168 billion at the end of December to $154 billion at the end of May, a decrease of 8.4 percent. The drop […]

UAE trade minister Thani bin Ahmed Al Zeyoudi at the WTO ministerial meeting in Abu Dhabi in February. He said 'We are getting the support from many of the EU members'

UAE to revive EU trade talks before year-end

The UAE plans to restart trade talks with the European Union by the end of the year despite a broader agreement with GCC remaining on hold, according to a news report. The UAE has initiated the discussion both through the GCC and bilaterally, Reuters reported, quoting trade minister Dr Thani bin Ahmed Al Zeyoudi. “We are […]