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Latest News

Expansion cost of petchem complex up to $8 bln -Aramco

Petrochemicals complex PetroRabigh is a venture between the two firms.

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December 8, 2010 12:09 by



The cost of expanding a petrochemical complex Saudi Aramco shares with Japan’s Sumitomo Chemical  is expected to reach between $6 billion to $8 billion, the chief executive of Saudi Aramco said on Wednesday.

Petrochemicals complex PetroRabigh is a venture between the two firms.

Khalid Al-Falih said the cost of another plant Aramco plans to build with U.S. Dow Chemical Co  in Jubail is “approaching nearly $20 billion”.

He told reporters on the sidelines of an industry conference that the construction contracts for the Shaybah natural gas liquids (NGL) project would be awarded in the first quarter of 2011. The plant would come on stream in late 2014, he said.

(Reporting by Humeyra Pamuk and Erika Salomon, Writing by Reem Shamseddine, Editing by Raissa Kasolowsky )



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