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FINANCIAL NEWS
Saudi Aramco, Dow officially set up a new JV
29 Nov 2011
(MENAFN) Saudi Aramco and Dow Chemical Co. announced the official setup of Sadara Chemical Co. in Jubail, Arab News reported.
Once complete, the joint venture complex is poised to become one of the world’s largest integrated chemical facilities, and the largest-ever built in a single phase.
Sadara’s first units are expected to start commercial production in the second half of 2015, while the overall complex is expected to operate in 2016.
Saudi Aramco President and CEO Khalid Al-Falih reiterated on the significance of the joint venture as a major contributor for Kingdom’s transformational downstream growth strategy.
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