His Highness Prince Saud bin Abdullah bin Thunayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu has approved six (6) mega industrial expansion projects for Jubail Industrial City at a ceremony held in Al-Fursan Hall, Al-Huwaylat District, Sunday, 12 February 2012.
The projects according to HH Prince Saud are expected to create more gateways for investments, in addition that these will generate a large number of employment opportunities in the region.
Al-Jubail Petrochemical Company (Kemya) has been awarded the contract for setting up an industrial complex covering 32.7 hectares. The project worth SR 12bn will produce ethylene propylene diene monomer, rubber and black carbon that are used mainly in automotive industry and can used as well in the production of tires, computers and rubber insulation.
Jubail Chemical Industries Co. (JANA) acquired the SR 3bn project for the establishment of an industrial complex for expansion of existing industries and adding new products with production capacity of 600 thousand tons per year and to use the materials to be produced in a number of manufacturing industries such as painting, leather, and several of chemical industries.
Saudi International Petrochemical Company (Sipchem) received a capital project of SR 2.8bn for the production of ethylene vinyl acetate and low-density polyethylene with production capacity 200,000 tons per year. The produced products of ethylene vinyl acetate will be the first one in the Kingdom.
National Industrialization Company or Tasnee has been granted the approval of developing a SR 1.4bn project to produce highly absorbent polymers with capacity of 80,000 tons per year. The products produced will be utilized in many chemical, agricultural and consumer products.
The Saudi Arabian Fertilizer Company (SAFCO) has won the SR 200mn award project for the production of 3.6 million tons per year of urea, which are used for many industrial products and manufacturing of several synthetic ones such as melamine and fertilizers. This project will also help in achieving clean development mechanism in environment preservation and disposal of 850 tons per year of carbon dioxide.
Al-Bilad Co. has received the lifting project of 5000 tons per year of chemical derivatives used mainly in petroleum refining and petrochemical industries with contract amount of SR 20mn.
His Highness Prince Saud expressed his highest gratitude to the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz Al-Saud, HRH Prince Naif bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Interior on their good governance and for their continuous efforts to provide better welfare and prosperity to Saudi Arabian nation, moreover, creating further environment facilities to investors.
The new contracts are part of a massive industrial push in the region. Over the past year, the two industrial cities had received licences for new projects totalling $39bn, while current investments in the regions stand at $180bn.