FINANCIAL NEWS

Saudi Aramco invites bids for Wasit plant

28 Jun 2010

(MENAFN) State-run giant Saudi Aramco said that it has invited companies to bid for the construction of the biggest gas plant in the kingdom, Reuters reported.

After completing a crude oil capacity expansion plan last year, the world?s top oil exporter has focused on developing gas production to meet rapidly rising domestic demand.

Aramco has given no cost estimate for the Wasit plant, but industry sources said it would cost between $6 billion and $8 billion.

Twelve companies have passed Aramco?s qualification process and can bid for each of the four construction packages. The packages are for a gas unit, a cogeneration power plant, a sulphur recovery unit with utilities and the final package is for a natural gas liquids (NGL) fractionation plant.

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