The contract was signed by Abdul Rahman Al-Saif, president of Projects and Services at Sipchem, and STX Arabia CEO Lee Sun Hong.
Al-Saif pointed out that the project "is a clear proof of the company's commitment to achieve its vision and realize its mission and values toward its employees... this in continuation to the benefits offered by the company to provide proper environment for its employees." He added that Sipchem has already completed the infrastructure work for the initial phase and the second phase is currently under way; it is expected to be completed in December this year. The infrastructure phase of the project included the setting up of installations like cable and ducting works, roads, lighting and landscaping.
The home ownership scheme will cover all Saudi employees of Sipchem who are on the company's payroll  at the time of completion of the project.
The Department of Projects in Sipchem is currently coordinating with the respective departments of the Royal Commission for Jubail with regard to the connection and supply of public utilities such as electric power, drinking and irrigation water as well as connection to the public sewage network of the city.