Sadara Downstream PO and EO Partner
Sadara Chemical Company enters agreement with Saudi, South Korean consortium
Sadara Chemical Company will supply chemicals to Saudi and South Korean consortium Surfactants’ Detergent Company (SDC), a joint venture that will build a chemical production facility in Jubail Industrial City’s PlasChem Park.
"We welcome the interest of Korean SME's to participate in our specialty chemicals market, which is growing rapidly in line with the move to diversify the Kingdom's economy,” Sadara Value Park Director Mohammad Alazzaz. “This consortium between a Korean specialty company as technology provider and local Saudi investors and entrepreneurs is a great model of collaboration, combining local talent pools and knowledge with international experience and expertise. SFC's interest in entering the Saudi market highlights the global interest we have received for the many opportunities PlasChem Park has to offer."
SDC consists of Korean technology provider SFC Ltd and Saudi’s Ahmad K. Al-Amoudi Ltd and Maydan Industry for Industrial Developmentes and Investment Ltd. The agreement specifies that Sadara will provide SDC with ethylene oxide and propylene oxide.
"This joint venture is an excellent opportunity for us in the SFC and for our Saudi partners,” SFC CEO Hong Jungku said. “We are creating a surfactants plant which is very advanced technologically and has very good cost efficiency. The joint venture leverages the unique strengths of SFC and our Saudi partners to create substantial value for our stakeholders."