Basic Chemical Industries Co. (BCI) has started operations in the chlorine derivatives plant in Jubail Industrial City, the company said in a bourse statement.
“All equipment was delivered, and the project will be completed by March 2021,” the statement added.
The project, which is 35% complete, missed the set deadline due to finalizing the engineering designs; however, this delay has no relevant financial impact on the company’s earnings.
The project’s costs increased from SAR 520 million to SAR 685 million on higher contracting expenses and other construction works.
In October 2016, BCI reached a final agreement with the Royal Commission for Jubail and Yanbu to allocate 200,000 square meters (sqm) of land for the company’s future projects in the city, Argaam reported.
In May 2018, BCI awarded a supervision contract to WorlyParsons Arabia Limited for its chlorine derivatives project in Jubail Industrial City.
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