Riyadh-Mubasher: Saudi Basic Industries Corp (SABIC) has completed the construction and mechanical works on its Saudi Elastomers Project (SEP) and started the trial operation at the carbon black and utilities units on 13 December, the company said in a bourse statement on Sunday.
The commercial operation is expected during the second quarter of 2016, and the financial impact is likely to be reflected on the company's financials after the launch of commercial operation.
Kemya, a SABIC manufacturing affiliate, had awarded Daelim Industries, Technip, and Tecnicas Reunidas, contracts to handle the engineering, procurement and construction of plants at Kemya Complex.
The project is expected to supply more than 400,000 metric tonnes of rubber (butyl, styrene butadiene rubber (SBR), butadiene rubber and EPDM), thermoplastic specialty polymers and carbon black to serve emerging local and international markets in Asia and the Middle East at an estimated investment cost of $3.4 billion.
Kemya is a 50/50 joint venture owned by SABIC and Exxon Mobil Arabian Chemical Co., an affiliate of Exxon Mobil Chemical Co.
