Saudi Aramco-Dow Chemical JV Moves Ahead On Petrochemical Project
Saudi Aramco and Dow Chemical have said that their proposed joint venture petrochemical project is progressing with the front-end engineering and design (FEED) work expected to be completed in mid-2011.
Saudi Aramco and Dow confirm that they have decided on Jubail Industrial City as the planned site location for the project. The decision comes after having evaluated a set of variables, which includes anticipated infrastructure benefits and various potential business integration opportunities.
Jubail Industrial City is located in the Eastern Province of the Kingdom of Saudi Arabia, approximately 100km north-west of Dammam.
Abdulaziz Al-Judaimi, vice president responsible for the project at Saudi Aramco, said: “We continue to execute the project. The commitment of both partners demonstrates the strategic importance of this project and the benefits of investing in the Kingdom of Saudi Arabia.”
Jim McIlvenny, senior vice president of Dow, said: "The project has and continues to benefit from the shared dedication and hard work of top talent from Dow and Saudi Aramco. The project team will continue to evaluate all variables that could impact the ultimate investment decision and the relevant stakeholders."
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