Sipchem announces commercial operation of (GACI) plant

Reference to its announcement in Tadawul on 03/03/2014, Saudi International Petrochemical Company (Sipchem) announces commencing of commercial operation of cable insulation polymers plant owned by Gulf Advanced Cables Insulation Company (a Sipchem affiliate) located in its complex in Jubail Industrial City on Monday, 01/06/2015.

The tests of all plant equipment, capacity and efficiency proved to be successful. Therefore, the financial impact shall be reflected on the 2nd quarter 2015 financial statements.

The plant produces several types of cable insulation polymers which are used for fabricating electrical cable insulation materials. The product will be marketed by Gulf Advanced Cables Insulation Company. These polymers are used to manufacture electric cable insulators. Such specialized products are considered part of the Company strategy to execute comprehensive transformation projects in addition to the existing products of the Company. It is worth mentioning that raw material required for the project is Low density polyethylene (LDPE) and Ethylene Vinyl Acetate (EVA) that shall be provided by the International Polymers Company (IPC) (a Sipchem affiliate). This plant will meet the local and global demand of electric cable insulators.

On this occasion, Sipchem CEO, Eng. Ahmad Al-Ohali, stated that the production of cable insulation polymers is one of the downstream industries that uses feedstock produced by Sipchem. Such integration boosts and enhances the company position to meet the growing demands in local and global markets. The company capabilities and its efficient management along with its high-performing employees played the main role to execute this project successfully.

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