Saudi Private Venture - Saudi International Petrochemical Co. (SIPC).

Approved by the trade ministry in October 1999, SIPC is capitalised at SR500m ($133m) divided into 10m shares. With a nominal value of SR50 per share, these are split among 73 shareholders from Saudi Arabia and other GCC countries.

SIPC is to have a plant in built Jubail by 2002 to produce 50,000 t/y of butanediol (BDO) and 10,000 t/y of maleic anhydride (MAH) under licence from Huntsman Corp. of the US and Kvaerner Process of the UK. The AH Al Zamil Group has a 50% stake in the venture, with the remaining shareholders mainly from other GCC areas. BDO is used to produce thermoplastic polyurethanes, elastic fibres, pharmaceuticals, solvents and plant protection coatings. MAH is used mainly in unsaturated polyester resins for the production of boats, cultured marble bathroom fixtures and vehicle body parts. The feedstock for MAH will be n-butane.

AH Al Zamil Group is also planning to have a plant to produce 850,000 t/y of methanol and 200,000 t/y of acetic acid. A project manager is to be appointed before end-1999.

The group has already secured a licence for this project from the ministry of industry and electricity. It has concluded feedstock supply agreements with Saudi Aramco and SABIC.

Gulf Stabilisers Group (GSG), a JV between HA Al Zamil Group and Great Lakes Chemical Corp. of the US, is to have a plant in Jubail to make 5,700 t/y of phenolic and phosphite antioxidants, used mainly to stabilise polymeri-sation. The $50-60m plant is to be completed before end-2001.

Arabian Chemical Latex Ltd: This is a JV between E.A. Juffali & Brothers and the European subsidiary of Dow Chemical. In June 1995, it brought on stream a plant to produce 30,000 b/d of styrene-butadiene latex. It has a plant in Jeddah producing extruded polystyrene since 1986.