Basic Chemical Industries Co. (BCI) signed on Wednesday an agreement with Germany-based ThyssenKrupp Uhde Chlorine Engineers to implement the first phase of its chlorine derivatives project in Jubail Industrial City, the company said in a statement to Tadawul.
Last October, BCI reached an 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.
BCI said it would use some of the land to set up a chlorine derivatives project at an estimated cost of SAR 520 million.
The project will be financed from operating cash flows, commercial loans, and another loan from the Saudi Industrial Development Fund (SIDF).
The plant’s first phase will operate with a capacity of 70,000 tons per annum.
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