Published On:October 7 2010
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Korea firm plans to set up a $1bn Saudi chemical plant: win the constract
South Korea's STX Heavy Industries, it has signed a $1.1 billion preliminary agreement to build a polysilicon plant and a benzene plant in Saudi Arabia.
A unit of Korean group STX Corporation, the firm said as per the agreement signed with Saudi-based Al-Rajhi Group, it will build these chemical plants at the Yanbu industrial complex by 2014.
One plant will produce an annual 6,000 tons of polysilicon, a major component of solar cells, while the other will make 100,000 tons of linear alkyl benzene used for producing detergent.