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SABIC invites bids for its polyacetal plant

Saudi Basic Industries Corp (SABIC) has invited bids for the construction of a polyacetal plant at its affiliate Ibn Sina in Jubail

Companies invited to submit bids by October 24 are Spain's Dragados, China National Chemical Engineering, Taiwan's CTCI, South Korea's Hyundai Engineering, Daelim Industrial, Hanwha Engineering and SK Engineering and Construction.

The plant, which will have a production capacity of 50,000 tonnes a year, is being built by National Methanol Co or Ibn Sina, a business which is 50 per cent owned by SABIC, while Celanese Corp and Duke Energy each have a 25 per cent share.

The value of the plant has not been released but when the agreement was signed in 2010, SABIC had informed that the investment was expected to be almost US$400mn.

The facility will use methanol feedstock from Ibn Sina to make polyacetal, widely used in the automotive industry.