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Sipchem plant to start operations next month.

Saudi International Petrochemical Company (Sipchem) will fully start a new petrochemical plant in November, a senior executive said. Top oil exporter Saudi Arabia is investing in a massive expansion plan in petrochemicals and chemicals as it looks to profit more from processing its abundant energy riches and become less dependent on crude revenues alone.

The plant cost around $1.8 billion to build, Sipchem's Vice President of Projects Mehdi Adib said at an industry event in Abu Dhabi.

It is the second phase of a Sipchem project, and will consist of an acetyls complex that will produce 450,000 tons of acetic acid, 330,000 tons of vinyl acetate monomer and 345,000 tons of carbon monoxide annually. The plant had been scheduled to come online in early 2009.

The company said in August operations would not begin until September. Germany's Lurgi and France's Air Liquide built the carbon monoxide plant. Fluor Canada built the acetic acid plant and the vinyl acetate plant.

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Title Annotation:Saudi International Petrochemical Company
Publication:Saudi Economic Survey
Article Type:Brief article
Date:Oct 25, 2009
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