Sumitomo Chemical, Saudi Aramco to expand petrochemical plant

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TOKYO, April 20 Kyodo -
Sumitomo Chemical Co. and Saudi Arabian Oil Co., known as Saudi Aramco,
basically agreed to expand their petrochemical plant in Rabigh, western Saudi
Arabia, the Japanese chemical maker said Monday.
Under the accord, the two companies will expand the existing petroleum
refilling and petrochemical production complex, with an eye to starting
operations by the third quarter of 2014.
The envisioned project will create one of the world's largest integrated
refining and petrochemical facilities, said Khalid A. Al-Falih, president and
chief executive officer of Saudi Aramco.
Total investment in the plant expansion is likely to be several hundreds of
billion yen, though Sumitomo Chemical and Saudi Aramco did not disclose the
amount of investment, sources familiar with the deal said.
Sumitomo Chemical said the two firms will formally decide on the project after
completing a feasibility study by September 2010.
==Kyodo
2009-04-20 20:58:56