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Saudi Sipchem to mothball Jubail GACI plant
6/29/2021 12:00:00 AM
Saudi Arabia-based petrochemical producer Sipchem plans to mothball its Jubail-based affiliate Gulf Advanced Cable Insulation (GACI) from 1 July.
The GACI plant is responsible for producing cross linkable low-density polyethylene (LDPE) and semi-conductive LDPE, which are used in electrical cables. GACI uses feedstock produced by Sipchem's Jubail-based affiliate International Polymers' 200,000 t/yr LDPE and 200,000 t/yr ethylene vinyl acetate plants.
GACI started operations in June 2015 as a 50:50 joint venture between Sipchem and South Korean petrochemical producer Hanwha Solutions.
This decision is part of Sipchem's strategy of "improving profitability, efficiency of operations, ensuring best levels of liquidity, stability and maintaining the integrity of its financial structure," it said.
Source: Argus