Saudi Kayan awards $400m Jubail contracts

12 December 2007

Saudi Kayan Petrochemical Company has awarded contracts worth more than $400m on its giant Jubail project to Mohammed al-Mojil Group from Saudi Arabia.

The contracts are among the last on the world-scale complex, which will produce polyethylene, polycarbonates, cumene and phenols.

Jubail is touted as the largest standalone petrochemicals complex ever built.

Saudi Kayan is a joint venture of Saudi Basic Industries Corporation (Sabic) and Al-Kayan Petrochemical Company, also from Saudi Arabia.

The company is expected to stage an initial public offering of 45 per cent of its capital in 2008.

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