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Wed 24 Sep 2014 01:45 PM

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Saudi's Sipchem starts trial ops at new plastics plant

Petchems firm says working with South Korea's Hanwha Chemical at new facility in Riyadh

Saudi's Sipchem starts trial ops at new plastics plant
(Photo for illustrative purposes only)

Saudi International Petrochemical Co (Sipchem) said on Wednesday it had started trial operations of a new plant in Riyadh along with South Korea's Hanwha Chemical.

The plant, which has an annual production capacity of 1,000 tonnes of plastic moulds, cost an estimated SR110 million ($29.3 million) to build, Sipchem said in a bourse filing.

Sipchem owns 75 percent of the joint venture, which is called Saudi Specialty Products Co, while Hanwha owns the rest.

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