Published: Sep 24, 2014
Source: Tadawul


Email this story Print this page zoomin zoomout

Sipchem announces that International Gases Company, one of its affiliates, signed CO Supply Agreement with SABIC

Saudi International Petrochemical Company (Sipchem) announced that its affiliate International Gases Company (IGC) has signed on 24 September 2014 a long term Carbon monoxide (CO) supply agreement with SABIC to supply CO to SABIC affiliate the Saudi Methacrylates Company (SAMAC) which will be used as feedstock in the production of 250 KTA methyl methacrylate (MMA). The agreement was signed by Eng. Abdullah S. Al-Saadoon, President, Sipchem Manufacturing and Eng. Abdulrahman S. Al-Fageeh, Executive VP, SABIC Performance Chemicals. CO is one of the raw materials required by SAMAC and IGC will process natural gas, allocated by ARAMCO to SABIC, for this purpose in its existing plant in Jubail Industrial City. Once the SAMAC plant becomes operational, IGC will be able to increase its production and sales of CO by 23%. IGC operates a CO plant, which is considered to be one of the largest of its kind in the world; producing 345,000 tpa of CO. Sipchem owns 72% of IGC and 28% by local investors.

Middle East Stock Markets

Index Last Change %Change
TASI 6,871.72 -29.71 -0.43%
ADI 4,516.84 -15.40 -0.34%
DFMGI 3,327.13 -24.38 -0.73%
QE 10,060.52 -26.78 -0.27%
KSE 6,687.53 -15.12 -0.23%
MSM30... 5,403.140 +10.830 0.20%
ASE... 2,156.36 -4.14 -0.19%

Recent Analyst Actions  >>

Company Price Opinion
Voltamp Energy Co. 0.52 Overweight
Jarir Marketing Co. 142.60 Overweight
Saudi Basic Industries Corp. 90.00 Neutral
Etihad Etisalat Co. 25.00 Neutral
Yamama Cement Company 20.30 Neutral

Markets Today Quick Links


Get all the latest updates about the GCC & Global Markets directly to your email