Punj Lloyd signs LoI for plant in Saudi Arabia

NEW DELHI: Punj Lloyd Ltd through its subsidiary - Simon Carves has signed a letter of intent (LoI) to build a new 300 ktpa LDPE plant in Saudi Arabia for the Saudi Kayan Petrochemical Company, an affiliate of Saudi Basic Industries Corporation.

The plant, due to start up in the first quarter of 2010, is to be built at Saudi Kayan’s petrochemical complex at Al-Jubail Industrial City. The size of the contract stands undisclosed. Headquartered in Manchester in UK, Simon Carves— a 100% subsidiary of Punj Lloyd— is engaged in the business of polymer engineering.