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Mitsui & Co to form JV with Sipchem for ethylene plant

13
Feb '07
Japanese trading giant Mitsui & Co is planning to enter into a joint venture with Saudi International Petrochemical Co (Sipchem). The JV, worth nearly $7-8 billion, focuses on integrated production of petrochemicals.

Under the project, an ethylene unit will be set up in Jubail along east coast of Saudi Arabia. Factory is expected to have a production capacity of 1-1.3 million tons per annum, which is the maximum for any single plant globally.

Major Saudi multinational Zamil Group is the founder of Sipchem, which has sketched this venture.


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