Sipchem signs letter of intent to expand its petrochem products reach in Saudi Arabia

Saudi-listed Sahara International Petrochemical Co. (Sipchem) signed a Letter of Intent (LOI) with Hoyer Middle East to further enhance the reach of its chemical products.

The agreement is in-line with Sipchem’s vision to expand to a full-fledged distribution company capable of delivering products and services to both large and small-to-medium businesses located in the Kingdom and internationally.

The agreement will create new opportunities for small and medium enterprises (SMEs) within Kingdom and at the same time unlock additional value potential for Sipchem, it said in the statement.

“I believe that this is a major building block that will further strengthen Sipchem’s position as a leading petrochemical products supplier in the Kingdom and internationally,” Eng. Saleh Bahamdan, CEO at Sipchem, said.