Daelim announced on June 26, 2012 that it received LOA for the Kemya Saudi Elastomers Project worth USD 710 million (KRW 830 billion) including the local subsidiary’s stake from Saudi Arabia’s Al Jubail Petrochemical Company. The project involves building a synthetic rubber plant in Jubail Industrial Complex located in the eastern part of Saudi Arabia. The order to build the plant was placed in a total of six packages, with Daelim winning 3. The project will be implemented via EPC lump sum turnkey mode, i.e., Daelim will be responsible for engineering, procurement, and construction.
For this project, a plant that can annually produce 400,000 tons of various high-performance synthetic rubber types will be constructed. Daelim is slated to construct indirect support facilities and auxiliary facilities (utilities & offsites) for plant operation such as production plants for carbon black, which is used as black additive for car tires (annual capacity: 50,000 tons), and for the polybutene used to manufacture lubricants and synthetic rubber (annual capacity: 102,000 tons). Al Jubail Petrochemical Company is a joint venture invested in by Saudi’s state petrochemical company, SABIC, and US multinational petrochemical corporation Exxon Mobil having 50% stake each.
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