Sipchem announces the commercial operation of its EVA Film Plant
Tuesday, January 01, 2019
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2014-12-30 Corresponding to 1436-03-08

Date of posting the previous announcement on Tadawul’s website

Saudi International Petrochemical Company (Sipchem) is pleased to announce that the EVA Film Plant (EVA), owned by Saudi Specialized Products Company (SSPC), an affiliate of Sipchem, commenced commercial operations today, January 01, 2019. The EVA Film plant performance tests were completed successfully confirming the plant’s capacity of 4,000 MT annual production capacity of Ethylene Vinyl Acetate Film.

Change Details on development

The financial impact of full commercial operations will be reflected in the company's financial results as of the first quarter of 2019.

Financial Impact on the change

This project is the first of its kind in the Gulf region, located in Hail Industrial City. The total estimated cost of the project is SR 150 million. EVA Film is used to make the panels for solar cells generating electricity from solar energy.

This announcement is a reference to the company's earlier announcement published on the Tadawul website on 30/12/2014.

Additional Information