BCI awards Worly Parsons supervision contract for Jubail chlorine project

Basic Chemical Industries Co. (BCI) has awarded a supervision contract to Worly Parsons Arabia Limited for its chlorine derivatives project in Jubail Industrial City, it said in a statement to Tadawul.

The chemical producer has obtained all approvals for the electrical construction of the project, which will be completed by June 2020.

The first shipment of the project equipment is expected to arrive by early August as per the previously signed agreement with the external supplier, ThyssenKrupp Uhde Chlorine Engineers.

The Worly Parsons contract does not have any impact on the project cost, BCI added.

In a separate statement, BCI said it had signed another agreement on Sunday with the Arab National Bank that amended the limit of the project’s credit facility to SAR 262 million.

The Islamic facility will extend over seven years and four months, and is secured by a promissory note in favor of the bank, it said.

In March last year, BCI signed an agreement with Germany-based ThyssenKrupp Uhde Chlorine Engineers to implement the first phase of its chlorine derivatives project in Jubail Industrial City.

The project’s estimated cost stands at SAR 520 million, to be financed from operating cash flows, commercial loans, and another loan from the Saudi Industrial Development Fund (SIDF), the firm had said.