RIYADH, 17 January 2005 — Saudi International Petrochemical Company (SIPCHEM) said it was preparing to build a new acetyls complex in the Gulf industrial city of Jubail. Saudi British Bank and HSBC would be financial advisers for the project, which would include a 2.65-million-ton-a-year carbon monoxide plant and was expected to start operating in 2008, the company said in a statement.