Sahara International Petrochemical Co. announced the award of the engineering, procurement, and construction (EPC) contract on December 21, 2023, to SGC-eTEC to expand the ethylene cracker plant at the Saudi Ethylene and Polyethylene Company (SEPC), a Joint Venture of Tasnee Sahara Olefins Company (TSOC), which Sahara Petrochemical Company owns by 32.55%. The total value of the contract is estimated at $500 million.

The project is expected to be completed and production to begin in the first half of 2026, with an increase in production of olefins at the ethylene cracker plant by around 18%. According to contracts and expected prices, this is expected to contribute positively to the consolidated profits of Sahara International Petrochemical Co. (Sipchem).

Any material development will be announced in accordance.