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New Delhi March 12 Simon Carves Ltd, a subsidiary of Punj Lloyd Ltd (PLL), has received a letter of intent (LoI) to build a low density polyethylene plant, with a capacity of 300 kilo tonnes per annum (ktpa), for the Saudi Kayan Petrochemical Company, an affiliate of Saudi Basic Industries Corporation , in Saudi Arabia.

However, the company declined to divulge the value of the project citing non-disclosure terms. The LoI is on the basis of a fixed price for contractor's services and a conversion to a lump sum engineering, procurement, construction price, once detailed engineering is sufficiently defined, it said.

The plant, due to start up in the first quarter of 2010, is to be built at Saudi Kayan's petrochemical complex at Al-Jubail Industrial City, KSA, and will incorporate technology from Basell GmbH, said a company release.

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