MRC -- Sahara International Petrochemical Co., also known as Sipchem, has initiated the world’s largest calcium chloride operation at their factory, said Arabnews.
Based in Saudi Arabia, the Khair Inorganic Chemical Industries Co., also known as InoChem, will operate a greenfield of soda ash and calcium chloride industrial complex spanning over 800,000 sq. meters of land in Ras Al-Khair, according to the Saudi Exchange.
Sipchem, which owns 30 percent of InoChem’s capital, will continue the trial until the testing of the plant equipment is completed and its efficiency is confirmed.
The project’s total cost is estimated at SR2.9 billion ($783 million), with an annual production capacity of 300,000 tons of soda ash and 348,000 tons of calcium chloride in various grades, densities, shapes, and sizes. The production employs the latest advanced technologies and equipment.
The plant is also the first soda ash producer in the Gulf Cooperation Council countries and the largest in the Middle East and North Africa region. The financial impact will be calculated at the beginning of commercial operations. Any material development will be announced in accordance with relevant laws and regulations.
InoChem is a Saudi closed joint-stock company founded in 2016 by a partnership between the public and private sectors.
We remind, Saudi Arabia's Sahara International Petrochemical Co. (Sipchem) on Wednesday reported a Q3 2023 net profit of 233.1 million riyals ($62 million), 70% lower compared to the year-ago period, said Zawya. The net profit came well below analysts’ mean estimate of SAR 356.7 million, according to LSEG data.