IssuerAnnouncementDetailsV2Portlet
Actions
ADVANCED PETROCHEMICAL COMPANY (ADVANCED) ANNOUNCES ENGINEERING PROCUREMENT & CONSTRUCTION CONTRACT AWARD TO GAS ARABIAN SERVICES COMPANY FOR CONSTRUCTION OF A PIPELINE BETWEEN ADVANCED AND JUBAIL UNITED PETROCHEMICAL COMPANY (UNITED)
| Element List | Explanation |
|---|---|
| Introduction | Advanced Petrochemical Company (ADVANCED) has awarded the Engineering, Procurement & Construction (EPC) contract to Gas Arabia to construct pipeline to supply a by-product gaseous stream, containing high value chemicals, from ADVANCED to Jubail United Petrochemical Company (UNITED), an affiliated company of SABIC. As a result of promoting the culture of innovations, this project was conceptualized resulting in synergistic opportunity by creating an industrial integration project between ADVANCED’s Propane Dehydrogenation plant (PDH) and UNITED’s ethylene plant. This innovative Project will create value addition to both companies by reducing the carbon foot print through adopting circular economy concept, upgrading the by-products containing high value chemicals from the stream with a positive environmental and financial impact for both Parties. |
| Date of the Award | 2023-03-05 Corresponding to 1444-08-13 |
| Contract Value | SAR 50.98 Million |
| Contract Details | Constructing a pipeline system from the PDH unit of ADVANCED to the Cracking Unit of UNITED for upgrading by-product containing high value chemicals by processing in the cracker unit of UNITED. |
| Related Parties | None |
| Additional Information | ADVANCED continues to explore such collaborative opportunities with local companies to capture value addition in upgrading various potential byproducts streams to high value products, enhancing the industrial integration among the industrial companies and increasing operational efficiency in Jubail, as well as supporting ADVANCED’s initiatives towards its Environment, Social, and Governance (ESG) Strategy. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 30.5
Net Change 0.2 (+0.66%)
Value Traded (Sar) 16,754,377.78
Volume Traded 544,445
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions