Advanced Petrochemical Co. awarded Gas Arabian Services Co. (GAS) an engineering, procurement and construction (EPC) contract on March 5, at a total value of SAR 50.98 million excluding VAT, the two firms said in separate statements to Tadawul.
Under the contract, GAS will set up a pipeline to transfer the associated petroleum gas, containing high value chemicals, from Advanced to Jubail United Petrochemical Co. (United) – an affiliate of Saudi Basic Industries Corp. (SABIC).
The contract followed the industrial integration between Advanced’s propane dehydrogenation plant (PDH) and United’s ethylene plant. The innovative project will add value to both companies by reducing the carbon emissions through adopting the circular economy concept, and aggrandizing the added value from the associated products, which contain high value chemicals. This will have positive environmental and financial impact on both firms.
Advanced indicated that the contract includes extending a pipeline from its PDH unit to United’s cracking unit.
Advanced said it will continue to explore such collaborative opportunities with local companies to capture value and increase the operating efficiency in Jubail, in addition to supporting initiatives for environment, social, and governance (ESG) strategy.
The contract included no related parties, the statements added.
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