| 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 PDH and PP 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 Tecnimont S.p.A and Tecnimont Arabia Ltd. for the construction of PP Plants to manufacture 800,000 tons per annum Polypropylene. |
| 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 Tecnimont S.p.A and Tecnimont Arabia Ltd. for the construction of two PP Plants 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 485 million |
| Contract Details | EPC Contracts for the construction of facility to build two PP plants including product handling area with name-plate capacity of 400,000 tons per annum each, combined nameplate capacity of 800,000 tons per annum by utilizing Spheripol and Spherizone technologies by Basell Poliolefine Italia S.r.l, Italy. |
| 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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