‘The client now has to decide what to do with the contract,’ says a local contractor. ‘Either it goes ahead with the prices it now has, because it won’t get anything cheaper in the current climate, or it cancels the project altogether.’

The plant will have capacity of 770,000 tonnes a year (t/y) of paraxylene and 330,000 t/y of benzene. The facility’s technology has been licensed from the US’ UOP. The UK office of the US’ Bechtelis the front-end engineering and design (FEED) and project management contractor. Karo is majority owned by the local Petrochemical Industries Company (PIC– MEED 22:4:05).

Revised prices were also submitted to The Kuwait Styrene Company (TKSC)by South Korea’s Daelim Industrial Company, US-based Shaw Internationaland a US/South Korean JV of Foster Wheelerand Hyundai Engineering & Construction Company– in mid-October for the EPC contract covering the 450,000-t/y styrene monomer plant at Shuaiba (MEED 21:10:05).