IssuerAnnouncementDetailsV2Portlet
Actions
Sahara International Petrochemical Co. (Sipchem) announces expansion project for ethylene cracker plant at Saudi Ethylene and Polyethylene Company
| Element List | Explanation |
|---|---|
| Announcement Detail | Sahara International Petrochemical Co. (Sipchem) announces the award of the engineering, procurement, and construction (EPC) contract on December 21’ 2023, to SGC-eTEC to expand the ethylene cracker plant at the Saudi Ethylene and Polyethylene Company (SEPC), a Joint Venture of Tasnee Sahara Olefins Company (TSOC), which Sahara Petrochemical Company owns by 32.55%. The total value of the contract is estimated at $500 million. The project is expected to be completed and production to begin in the first half of 2026, with an increase in production of olefins at the ethylene cracker plant by around 18%. According to contracts and expected prices, this is expected to contribute positively to the consolidated profits of Sahara International Petrochemical Co. (Sipchem). Any material development will be announced in accordance. |
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 32.3
Net Change 0.2 (+0.62%)
Value Traded (Sar) 19,943,499.05
Volume Traded 618,168
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions