| Element List | Explanation |
|---|---|
| Introduction | Refer to earlier announcement dated March 29, 2020 (corresponding to 05/08/1441) for the signing of Shareholders Agreement between Advanced Global Investment Company (“AGIC”, a subsidiary of Advanced Petrochemical Company) and SK Gas Petrochemical Pte. Ltd. (“SKGP, a subsidiary of SK Gas Co., Ltd.), to incorporate Advanced Polyolefins Company (“JV Co.”) to construct and operate a PDHPP plants (the “Plants”) with a nameplate capacity to manufacture 843,000 tons per annum Propylene and 800,000 tons per annum Polypropylene in Jubail Industrial City, Kingdom of Saudi Arabia (the “Project”), AGIC has signed Engineering, Procurement and Construction Contracts with Samsung Engineering Co., Ltd. and Samsung Saudi Arabia Co., Ltd. for the construction of PDH Plant to manufacture 843,000 tons per annum Propylene. |
| Date of Announcement of the Award | 2021-04-14 Corresponding to 1442-09-02 |
| Contract Subject Matter | Signing of engineering, procurement and construction contracts with Samsung Engineering Co., Ltd. and Samsung Saudi Arabia Co., Ltd. for the construction of PDH Plant in Jubail II, Kingdom of Saudi Arabia. |
| Date of Signing the Contract | 2021-04-13 Corresponding to 1442-09-01 |
| Contract Value | Total Contracts value of USD 1.198 billion |
| Contract Details | EPC Contracts for the construction of facility for the PDH plant to produce 843,000 tons per annum propylene with all required off-sites and utilities by utilizing CATOFIN technology from Lummus Technology LLC, USA. |
| Contract Duration | 37 months from the notice to proceed as per the provisions of the Contracts. |
| Financial Impact and the Relevant Period | The financial impact is expected after the commencement of commercial operations by 2nd half of 2024. |
| Related Parties | No related parties involved in this contract. |
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