Foreign firms revise bids for Saudi Kayan's plant -sources

KHOBAR, Saudi Arabia Sat Jan 9, 2010 6:14pm IST

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KHOBAR, Saudi Arabia Jan 9 (Reuters) - Four international firms, including the US' Fluor Corp (FLR.N), submitted on Saturday revised bids to build a petrochemical plant in Saudi Arabia, sources said.

South Korea's Hyundai Engineering and Construction (000720.KS), Daelim Industrial Co 00210.KS and Taiwan's CTCI also bid for the 210,000 tonne per year (tpy) amines plant, being developed by Saudi Kayan Petrochemical Co (2350.SE).[ID:nLDE5BL05D]

The contract is expected to be awarded by the end of February, an industry source told Reuters.

The amines plant was one of two projects Kayan retendered. The other project was for a low density polyethylene plant.[ID:nLU480814]

Kayan, a unit of Saudi Basic Industries Corp (2010.SE) (SABIC), signed in December a preliminary agreement with Daelim to build the low density polyethylene plant.[ID:nSGE5BP012]

The main units of the mega complex located in Jubail, on the Gulf coast are expected to start operations in the second half of 2010.[ID:nLDE5BE046]

The complex will have an annual production capacity of 6 million tonnes of petrochemicals including ethylene, propylene and ethylene glycol from 16 plants. (Reporting by Reem Shamseddine; Editing by Andy Bruce)

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