Saudi International Petrochemical (Sipchem) and Hanwha Chemical's affiliate Gulf Advanced Cable Insulation has awarded an Engineering Design, Procurement and Construction (EPC) contract for the Wire and Cable Polymers Compounding Plant to POSCO Engineering South Korea.
The new SR 230m ($61m) polymer plant will produce the power cable insulation materials at Sipchem's site in Jubail Industrial City.
Sipchem affiliate International Polymers will supply feedstock for the plant.
The polymer plant comes as part of Sipchem's third phase expansion downstream programme, and is expected to start its operation in Q3, 2013.
