South Korea's Daelim Industrial has won a US$920.3m engineering, procurement and construction contract to build the main cracker for the Sadara Chemical Company, Daelim said in a statement.
The cracker is part of the $20bn joint venture project between Saudi Aramco and Dow Chemical, which aims to produce 1.5 million tonnes per year of ethylene and 400,000 tonnes per year of propylene.
The project will compromise 26 units building on Saudi Aramco’s project management and execution expertise, and utilizing many of Dow’s industry leading technologies. The complex will be one of the world’s largest integrated chemical facilities, and the largest ever built in a single phase.
Construction will begin immediately and the first production units will come on line in the second half of 2015, with all units expected to be up and running in 2016.
Once operational, Sadara is expected to deliver annual revenues of approximately $10 billion within a few years of operation and generate thousands of direct and indirect employment opportunities through the complex and related investments in downstream value parks.