Sabic signs pact with Japan's Toyo

DUBAI — Saudi Basic Industries Corporation (Sabic) has recently signed a Letter of Intent with the Japanese Toyo Engineering Corporation for the design, supply and construction of an Ethylene Glycol (EG) Plant at the Yansab affiliate. The plant will have capacity of 700,000 mt/y.

By A Staff Reporter

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Published: Tue 19 Jul 2005, 11:01 AM

Last updated: Thu 2 Apr 2015, 4:42 PM

This is the third plant project for which Sabic has initiated within this complex, located at Yanbu Industrial City on the west coast of the Kingdom of Saudi Arabia. Yansab is the most recent Sabic affiliate in the Kingdom, which will be the largest petrochemical complex with annual capacity exceeding 4 million MT of various petrochemical products.

Mohammed Al-Mady, Sabic vice-chairman & CEO said, "Sabic owns 55 per cent of Yansab capital. Sabic has allowed its partners in IBN RUSH and TAIF (17 Saudi and Gulf companies) to hold 10 per cent of Yansab capital. SABIC plans to allocate 35 per cent for public subscription. Yansab is expected to employ 1,500 employees in phase I and phase II."

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