South Korea's Daelim wins $293 mln Saudi butanol plant project
RIYADH, July 7
RIYADH, July 7 (Reuters) - Saudi Butanol Company (Sabuco), a joint venture of local petrochemicals firms, has awarded South Korea's Daelim Construction Co. a 1.1 billion riyal ($293 million) contract to build a butanol plant, Sabuco shareholders said on Sunday.
Construction of the plant in Jubail Industrial City will start in January 2014, with completion expected by May 2015. The plant will have a capacity of 330,000 tonnes a year of n-butanol, a type of alcohol used to make other chemicals, and 11,000 tonnes a year of iso-butanol.
Sabuco is a joint venture between Saudi Kayan Petrochemical Co., Sadara Petrochemical Co. and Saudi Acrylic Acid Co. (SAAC). Saudi Kayan and others announced the project in bourse statements.
Saudi Kayan is an affiliate of Saudi Basic Industries Corp. (SABIC), Sadara is a joint venture between state oil company Saudi Aramco and Dow Chemical Co. SAAC is owned by Sahara Petrochemical Co. and National Industrialisation Co. (Tasnee).