Sumitomo Chemical and Aramco Move Ahead with $7-Billion Rabigh II Project

Saudi Aramco and Sumitomo Chemical say that their Petro Rabigh petrochemicals joint venture will go ahead with the previously announced Rabigh II Project at Rabigh, Saudi Arabia. Sumitomo and Aramco have done a joint feasibility study for the Rabigh II Project, and have now decided to move ahead by finalizing various project details, such as agreements for engineering, procurement and construction, and other project contracts, as well as project financing, Sumitomo says. The project is expected to involve an investment of about $7 billion. Sumitomo and Aramco...

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