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Project Overview

Investment Background China-Saudi Arabia Capacity Cooperation Framework Agreement


 

∎ The Belt and Road Initiative of China

  -Encourages Chinese companies to bring their capacity overseas

  -Facilitates the “Going Abroad” process of supporting equipment

  -Promotes the economic transformation and upgrading of China

 

∎ Saudi Arabia Vision 2030

-To reduce overdependence on oil

-To become one of the world’s 15 largest economies

-To lift the foreign direct investment to GDP ratio to 5.7% (the international level)

-To increase the private sector’s contribution to GDP to 65%


Location: Jazan City for Primary and Downstream Industries (JCPDI)


∎ The Project is an important part of the JCPDI’s development plan 

∎ Projects in the JCPDI enjoy policy incentives 

-One of the four petrochemical & energy-intensive industrial cities under Royal Commission management   

-The Project will be landed in the JCPDI to align with Vision 2030   

∎ Project land: rent is charged at a merely symbolic rate 

-Energy supply: price advantages in utilities and other resources 

-Financing support: long-term low-interest loans from the Saudi Industrial Development Fund (SIDF) 

-Import tariff: machinery, equipment and raw material imports for investment projects are exempt from tariffs

-Local products are protected by government policies

-Tariffs are imposed on imported products

-Human resources: subsidies for staff salaries and training costs


Value Chain–Expanding to Upstream Industries




Project Planning 

Phase I: Build PTA and PET Plants & Supporting Facilities

Oct. 2018-Aug. 2020

-PET Plant (500 ktpa)

-PTA Plant (1.25 mtpa)

-Water Treatment Unit

-High Pressure Steam Boiler, Pipe Network and Tank Unit

-Benzoic Acid Recovery Unit

-Product Storage & Transportation Unit

-Catalyst Preparation Unit and Cooling Water Unit

Phase II: Increase Production Scale Based on Utilities Built in Phase I to Improve the Overall Efficiency 

Jun. 2019-Jun. 2021:              

-New PET Plant (500 ktpa)

-New PTA Plant (1.25 mtpa)

Phase III: Expand to the Chemical Fiber Industry Based on Upstream Raw Material Advantages

Jul. 2021-Jun. 2024:

-PBT Plant (200 ktpa)

-Flat Thin Film Plant (200 ktpa)

-Polyester Chemical Fiber Plant (200 ktpa)


Project Development 

2016.11.10
2017.03.16
2017.06.06
2017.07.13
2017.08.22
2017.08.24
2017.12.12-16
2018.01.14
2018.03.30
2018.04.24
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Link:PAN-ASIA SAUDI CO., LTD.(http://www.panasia.com.sa)


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