December 27, 2017 / 12:55 PM / 23 days ago

BRIEF-Saudi's Sabic Unit Signs EPC Contract for Ethylene Glycol Plant with Samsung Korea‍

Dec 27 (Reuters) - SAUDI BASIC INDUSTRIES CORPORATION :

* SAYS UNIT JUBAIL UNITED PETROCHEMICAL CO SIGNS EPC CONTRACT FOR ETHYLENE GLYCOL PLANT WITH SAMSUNG KOREA TO EXPAND EXISTING OPERTAIONS AT JUBAIL INDUSTRIAL CITY ‍

* SAYS TOTAL PROJECT VALUE IS ABOUT 3.3 BILLION RIYALS‍

* SAYS FINANCING OF PROJECT WILL BE DONE FROM CO‘S OWN RESOURCES AND COMMERCIAL LOANS FROM OTHER INSTITUTIONS

* COMPLETION OF CONSTRUCTION WORK WILL BE DURING FOURTH QUARTER OF 2020

* SAYS EXPECTS EXPERIMENTAL OPERATION OF PLANT DURING FIRST HALF OF YEAR 2021 Source text for Eikon: Further company coverage: )

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