Saudi Sipchem starts plastics plant with South Korea's Hanwha Chemical

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KHOBAR, Saudi Arabia, Sept 24 (Reuters) - Saudi International Petrochemical Co (Sipchem) said on Wednesday it had started trial operations of a new plant in Riyadh along with South Korea's Hanwha Chemical. The plant, which has an annual production capacity of 1,000 tonnes of plastic moulds, cost an estimated 110 million riyals ($29.3 million) to build, Sipchem said in a bourse filing. Sipchem owns 75 percent of the joint venture, which is called Saudi Specialty Products Co, while Hanwha owns the rest. (Reporting by Reem Shamseddine; Editing by Andrew Torchia)

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