Saudi Sipchem Starts Plastics Plant With South Korea’s Hanwha Chemical

Saudi International Petrochemical Co (Sipchem) said on Wednesday it had started trial operations of a new plant in Riyadh along with South Korea’s Hanwha Chemical.

The plant, which has an annual production capacity of 1,000 tonnes of plastic moulds, cost an estimated SAR110 million ($29.3 million) to build, Sipchem said in a bourse filing.

Sipchem owns 75 per cent of the joint venture, which is called Saudi Specialty Products Co, while Hanwha owns the rest.