SIPCHEM signs an EPC contract with a German co. for the polybutylene plant

Saudi International Petrochemical co. (Sipchem) announced on tadawul today the signing of an Engineering, Procurement and Construction Contract with  the German co. Tesen Corp. Audi to set up the polybutylene plant as follows:

1.  The project starts 18/6/2013 and expected to be ready for operations by Q4 of 2014.
2.  The project total cost is SAR 600m.
3.  The project will be financed by credit agreements, SIDF and partners.