04 December 2008 06:35 [Source: ICIS news]
DUBAI (ICIS news)--Malaysian state-owned oil major Petronas and Saudi Arabian Tasnee Petrochemicals are among the four companies bidding for a stake in the multi-billion-dollar Jizan oil refinery project, company sources said on Thursday.
Petronas trading arm Malaysian International Trading Corp (MITCO) has submitted a formal bid, a source said, while a source from Tasnee confirmed the company made it to the list of bidders for the Middle East refinery.
The sources spoke to ICIS news at the sidelines of the 3rd Gulf Petrochemical and Chemicals Association (GPCA) forum.
The winning bidder for Jizan should be named by June 2009, sources said.
Eight Saudi Arabian companies have submitted initial expressions of interest for the Jizan project, which is expected to have a refinery capacity of 250,000-400,000 bbls/day.
The three-day GPCA forum ends Thursday.
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