Sipchem, Linde GMBH sign JV to build industrial gas projects in Saudi Arabia

15/12/2020 Argaam

Sahara International Petrochemical Co. (Sipchem) signed, today, Dec. 15, a 20-year strategic partnership agreement with Linde GMBH to set up a 50:50-owned joint venture (JV) to develop industrial gas projects across the Kingdom.

 

The 20-year partnership agreement aims to build a world-class industrial gas network in Jubail Industrial City by connecting via pipeline the existing hydrogen and syngas plants owned and operated by the two parties, according to a bourse statement.

 

The main focus of the JV will be on the development of new production facilities in order to supply carbon monoxide, hydrogen, syngas ammonia, and associated gases alongside efficient solutions for the decarbonization of downstream production in industrial clusters in the Kingdom.

 

The JV is forecast to unleash substantial investment opportunities of approximately $500 million over the next five years, subject to their economic viability.

 

Sipchem also noted that there is no immediate direct financial impact for this transaction.

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