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FINANCIAL NEWS
Saudi Aramco, Dow to relocate joint complex
25 Mar 2010
(MENAFN) Reuters reported that Saudi Aramco and US firm Dow Chemical are considering relocating their planned giant petrochemical complex from Ras Tanura to Jubail.
When Aramco and Dow announced plans to build the $20-billion plus plant, they initially chose Ras Tanura, home to the world’s biggest offshore oil facility, for the complex that would produce 8 million tons per year of petrochemicals.
Aramco and Dow would need approximately two to three months to get approval for the move from Saudi authorities, said an industry source.
The alternative location at Jubail, where there is already a 305,000 bpd refinery and where Aramco and France’s Total plan to build another 400,000 bpd refinery, is already a major hub for petrochemicals. It is between Ras Azzour and Ras Tanura on the Gulf coast.
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