Saudi Arabia's Ministry of Energy awards prestigious feedstock allocation for joint project between Sipchem and LyondellBasell

Core Viewpoint - The collaboration between Sipchem and LyondellBasell marks a significant milestone in the feasibility study for a world-scale mixed feed cracker complex in Saudi Arabia, supported by a feedstock allocation from the Ministry of Energy [1][4]. Group 1: Project Overview - The joint project will be structured with a 60% ownership by Sipchem and 40% by LyondellBasell, focusing on the technical, financial, and commercial aspects of the project [1]. - The construction of the project aims to manufacture petrochemical products and derivatives for both local and global markets, creating several thousand job opportunities in Saudi Arabia [1]. Group 2: Technological and Environmental Aspects - The project will leverage LyondellBasell's advanced technologies to produce differentiated grades of polyethylene and polypropylene, including the Catalloy product line [2]. - Sipchem and LyondellBasell will explore carbon management solutions and low emission technologies to support their and the Kingdom's net zero ambitions [3]. Group 3: Strategic Importance - The partnership is seen as a vital step in enhancing Sipchem's position in the petrochemical market, both locally and globally, while contributing to sustainable growth [4]. - The collaboration is expected to strengthen LyondellBasell's commitment to Saudi Arabia and its economy, providing opportunities for development and innovation [4].