Shaw Stone & Webster Sign LOI with SABIC for High Density Polyethylene Plant in Saudi Arabia

Shaw Stone & Webster has signed a letter of intent with Saudi Basic Industries Corp. (SABIC) for engineering, procurement, construction and commissioning of a 400,000 metric ton per annum high density polyethylene (HDPE) plant. The new HDPE plant will be located within SABIC's YANSAB affiliate petrochemical complex in Yanbu, Saudi Arabia and is expected to be completed in 2008. Under the letter of intent, Shaw has begun engineering and procurement activities. The value of the HDPE project was not disclosed.

J.M. Bernhard, Jr., Chairman and Chief Executive Officer of Shaw, said, "Shaw is extremely pleased to have been selected by SABIC to provide its engineering and construction expertise for this very important project. Our expert polymers team in Toronto, Ontario will lead this SABIC project and is already fully engaged in initial engineering and planning work. This award further strengthens Shaw's leadership position in the rapidly expanding petrochemical and polymers market in the Middle East."

Shaw Stone & Webster is an established leader in ethylene technology and down stream ethylene and propylene-based products, having provided technology, design, engineering and/or construction on more than 120 ethylene plants worldwide. Approximately 35 percent of the world's incremental production since 1990 has been based on Shaw's technology. Ethylene plants using Shaw Stone and Webster proprietary technology have established a worldwide reputation for exceptionally high operational reliability, rapid startup and superior performance. Shaw has recently completed a 600,000 metric ton-per-year ethylene plant that it engineered and constructed in Nanjing, China for BASF-YPC and has begun construction on a 1.3 million metric-ton ethylene plant in Saudi Arabia for SHARQ.

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Posted 14/02/06

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