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Eye of Dubai
Business & Money | Sunday 18 February, 2024 8:10 am |

Advanced seals $191M EPC contract for isopropanol plant

Advanced Petrochemical Co. signed EPC contracts to build the isopropanol plant in Jubail Industrial City using the manufacturing tech from Germany’s Thyssenkrupp at a total value of $191.26 million (SAR 717.23 million).

In an emailed statement to Argaam, Advanced said the project will be finalized in 32 months. The commercial operation is expected to begin by Q4 2026.

This project is an addition to the petrochemical industries sector in the Kingdom. It supports the strategic growth initiative pursued by the Advanced, which aims to enhance growth, maximize local investments to meet local and global demand, and diversify products in line with Saudi Vision 2030. The project is backed by the Ministry of Energy and other government entities that enable the petrochemical industry.

On this occasion, Khalifa Al Mulhem, Chairman of Advanced Petrochemical Co. and Advanced Polyolefins Co., said that this factory is the first of its kind specialized in Saudi Arabia and the Middle East for producing Isopropanol with an annual production capacity of 70,000 tons. This represents a significant step towards diversifying Advanced’s products in particular, and enhancing the diversification of specialty chemicals in the petrochemical industry sector across Saudi Arabia and the region.

Al Mulhem added that isopropanol is of great importance in various global industrial sectors, including industrial solvents, medical and cosmetic applications, electronics, and other transformative applications.

It has been previously identified as one of the targeted chemicals within the national industry development program, which in turn underlines its strategic importance for the Kingdom, he added.



Source : Argaam 

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