Daelim signs up for EB

23 May 2003
South Korea's Daelim Industrial Companyhas won the $80 million-85 million engineering and procurement (EP) contract to build a 64,500-tonne-a-year (t/y) ethyl benzene (EB) plant at Bandar Assaluyeh. The client is National Petrochemical Company (NPC).

The EB plant will supply feedstock to a 600,000-t/y styrene monomer unit, which is under construction by Italy's Snamprogettiin partnership with the local Sazeh Consultants. The Italian/local team signed up for the project in September 2001. HSBCearlier this year extended a $108 million export credit facility for the styrene monomer plant to NPC. The facility is guaranteed by the UK's Export Credits Guarantee Department (ECGD - MEED 31:1:03).

Both projects are part of NPC's olefins 9 complex, which will also produce medium-density and high-density polyethylene (MD/HDPE) and low-density polyethylene (LDPE) among other projects.

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