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FINANCIAL NEWS
Saudi Aramco sees USD7b Jizan refinery start-up in 2017
26 Feb 2015
(MENAFN) Saudi Aramco forecasts that its new 400,000 barrels per day refinery complex in Jizan is set to be ready for operation in 2017, Gulf Business reported.
As a part of a USD20 billion project, the Jizan refinery is set to be established alongside with an industrial city that includes a 4,000 megawatt (MW) power plant, a commercial port, and a refinery terminal.
The Jizan refinery, a cornerstone upon which a broader plan to revive local economy is to be founded, is valued at USD6 billion to USD7 billion.
“We expect start-up of some of the units, especially utilities, to take place in 2017, but the final completion would be in 2018 so that is the plan now,” CEO of Saudi Aramco said in a statement.
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