Sabic lets Sharq-III expansion contract

Feb. 24, 2005
Saudi Basic Industries Corp. (Sabic), Riyadh, Saudi Arabia, has awarded Foster Wheeler Energy Ltd. of the UK a program management services contract for engineering, procurement, and construction management of the Sharq III petrochemicals complex expansion project at Al Jubail.

By OGJ editors

HOUSTON, Feb. 24 -- Saudi Basic Industries Corp. (Sabic), Riyadh, Saudi Arabia, has awarded Foster Wheeler Energy Ltd. of the UK a program management services contract for engineering, procurement, and construction management of the Sharq III petrochemicals complex expansion project at Al Jubail.

The expansion will expand the Sharq complex's production to 2.9 million tonnes/year of ethylene, polyethylene, and ethylene glycol.

Sabic signed the contract on behalf of Eastern Petrochemical Co. (Sharq), a 50-50 joint venture of Sabic and a consortium of companies led by Saudi Petrochemical Development Co. and Mitsubishi Corp.

Production following the expansion is scheduled to begin before yearend 2008.

The government of Saudi Arabia owns 70% of Sabic, and the remaining 30% is held by private investors.