Saudi Aramco, Total to build refinery in Al-Jubail

15 May 2008 12:13  [Source: ICIS news]

SINGAPORE (ICIS news)--Saudi Aramco and French major Total have confirmed their decision to build a 400,000 bbl/day refinery in Al-Jubail, Saudi Arabia, the company said on Thursday.  

 

The decision was in response to the growing demand for petrochemical products in Asia, the Middle East as well as the European markets, it said.

 

The plant will produce, in tonnes, 700,000, 140,000 and 200,000 of paraxylene, benzene and polymer grade propylene respectively.

 

Operations were expected to come on stream by the end of 2012, added the company.  

 

Saudi Aramco would initially own 62.5% of the separate joint-venture company formed for the purpose of this co-operation, with Total holding the balance of the shares, it said.

 

Depending on statutory requirements, Saudi Aramco may subsequently offer 25% of its holdings to the public market.

 

Invitations to bid for the construction of the facility are expected to be released by mid-2008 with subsequent awarding of the deal to be announced by the first quarter of 2009. 

By: Bohan Loh
+65 6780 4359

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