Daelim wins $710M order for rubber plant in Saudi Arabia

Daelim Industrial said yesterday it has won an order to build an elastomers plant in Saudi Arabia worth $710 million.

The company said it received a letter of appointment from Al Jubail Petrochemical Company to build a synthetic rubber plant in the Middle East nation.

Construction of the facility, which will be able to produce 400,000 tons of high quality rubber a year, is being parceled out into six projects. Daelim said it has been awarded three - for a carbon black plant, a polybutene factory and other supplementary facilities - and that it will carry out the engineering, procurement and construction work.

Sources anticipate that ground will be broken in 2015, but Daelim could not confirm the start date. In Saudi Arabia, the company is carrying out construction projects in eight locations worth a total of $6.6 billion.