12 November 2009
TOKYO -- The petrochemical joint venture between Japan's Sumitomo Chemical Co. and Saudi Arabian Oil Co., or Saudi Aramco, is considering teaming with new partners to produce synthetic fiber and other products as part of the second phase of development of a petrochemical complex in western Saudi Arabia, a major Japanese business daily reported Thursday.
Ziad Al-Labban, president and chief executive officer of Petro Rabigh Co., said recently that discussions on joint production are under way with companies inside and outside Saudi Arabia, including Japanese firms, the Nikkei Shimbun said.
The venture has just completed the first phase of development of the Rabigh complex, one of the world's largest petrochemical production sites. The complex was constructed at a cost of USD 11 billion and can process 400,000 barrels of crude oil daily and 1.3 tons of ethylene annually.
The second phase, due to be completed by 2013 or 2014, will enable production of 17 products, centering on high-performance resins, according to the paper.
The chief of the joint venture also said that 11 companies have already decided to establish a presence at an industrial park adjacent to the Rabigh petrochemical complex.
A total of 50 companies, including some from Japan, will likely set up operations eventually, the daily quoted Al-Labban as saying.
TOKYO -- The petrochemical joint venture between Japan's Sumitomo Chemical Co. and Saudi Arabian Oil Co., or Saudi Aramco, is considering teaming with new partners to produce synthetic fiber and other products as part of the second phase of development of a petrochemical complex in western Saudi Arabia, a major Japanese business daily reported Thursday.
Ziad Al-Labban, president and chief executive officer of Petro Rabigh Co., said recently that discussions on joint production are under way with companies inside and outside Saudi Arabia, including Japanese firms, the Nikkei Shimbun said.
The venture has just completed the first phase of development of the Rabigh complex, one of the world's largest petrochemical production sites. The complex was constructed at a cost of USD 11 billion and can process 400,000 barrels of crude oil daily and 1.3 tons of ethylene annually.
The second phase, due to be completed by 2013 or 2014, will enable production of 17 products, centering on high-performance resins, according to the paper.
The chief of the joint venture also said that 11 companies have already decided to establish a presence at an industrial park adjacent to the Rabigh petrochemical complex.
A total of 50 companies, including some from Japan, will likely set up operations eventually, the daily quoted Al-Labban as saying.
© KUNA (Kuwait News Agency) 2009
