Manufacturing Industry
SAUDI ARABIA: Joint venture construction plans for proposed $3,500,000,000 petrochemical complex move ahead, CHINESE PETROLEUM CORP. (CPC) [Taiwan] & SAUDI BASIC INDUSTRIES (SABIC) [Saudi Arabia] - Order #: 116304.
WWP- Report on Oil Gas & Petrochemicals in the Developing World, November, 2004
PROJECT OVERVIEW:
Taiwan-based CHINESE PETROCHEMICAL CORP. (CPC) recently confirmed industry reports that it is considering the establishment of a joint venture with the local SAUDI BASIC INDUSTRIES (SABIC) in view of building a new petrochemical complex in the Kingdom. According to Mihn Tsao, CPC CEO (Petrochemicals), the project is being driven by the opportunity to acquire cheap ethane feedstock since its 3 Taiwanese crackers are presently based on naphtha feedstock.
The development under study will reportedly look into options to convert ethylene produced by the planned cracker into derivatives that would include polyethylene and ethylene glycol (EG) in Saudi Arabia. Another option could involve shipping the ethylene to Taiwan for conversion....
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