Dow venture talks going well - Saudi Aramco

10 May 2007 17:43  [Source: ICIS news]

HOUSTON (ICIS news)--Saudi Aramco said on Thursday that negotiations were going well with Dow Chemical regarding a joint project in Ras Tanura.

Aramco plans to make a major business announcement regarding Ras Tanura on Saturday, said Aramco spokesman Jamal Kheiry in a statement.

The joint project would create one of the world's largest plastics and petrochemicals production complexes in the world, Kheiry said.

Once the companies have signed a memorandum of understanding (MoU), Dow and Aramco would conduct a feasibility study.

Aramco has not provided specific information about the size of the project or the project schedule.

Dow has not released any information about the project.

By: Al Greenwood
+1 713 525 2653

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