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

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

The plant, with an annual production capacity of 1,000 tonnes of plastic moulds, cost around $29.3 million to build.

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.

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