DuPont and Sipchem Sign Final Agreements for VAM Technology

DuPont has signed definitive agreements with the Saudi International Petrochemical Company (Sipchem) to license DuPont technology for a new 300,000 tons/yr. vinyl acetate monomer (VAM) manufacturing plant to be located in the Jubail Industrial City, Kingdom of Saudi Arabia. DuPont will provide its VAM technology under license and provide technical assistance for the Sipchem VAM facility. The planned VAM facility will be integrated into other petrochemical facilities currently planned for the site. Sipchem, a Saudi joint stock company, is capitalized at US$173 million (SR650 million). Sipchem plans to produce and market VAM, maleic anhydride, butanediol, methanol and acetic acid from the new world-class manufacturing site facilities. Sipchem is a Saudi join stock company with participation from leading corporate organizations and investors in the Gulf Cooperation Council region. In its first phase development strategy, Sipchecm is constructing 1.0 million typ methanol plant, scheduled to be operational in January 20005 and a 75,000 typ butanediol plant, scheduled for start-up in December 2005. In addition to the acetyl complex that is expected to come on stream in 2008, the company is reviewing plans for building other important petrochemical plants.

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