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FINANCIAL NEWS
Foreign firms eye USD5b Saudi gas project
01 Aug 2015
(MENAFN) Foreign engineering firms have submitted bids to build a gas plant in eastern Saudi Arabia for Saudi Aramco at an estimated cost of USD5 to USD6 billion, industry sources said.
Saudi Aramco’s decision to move ahead with the project at Fadhili is a sign that Saudi Arabia continues to make big investments that it views as key to its economic future.
The new plant is to have a processing capacity of 2.5 billion standard cubic feet per day (scfd) of sour gas from the onshore Khursaniyah and offshore Hasbah fields.
South Korea’s Daelim Industrial, Hyundai Engineering and Construction and Britain’s Petrofac have bid for the project individually, the sources said.
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