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Approval for Aramco-Dow Petchems JV Expected Soon; IPO Planned
11:58 AM MDT | July 19, 2011 | Natasha Alperowicz
Saudi Aramco and Dow Chemical, partners in a previously announced multibillion-dollar, equally owned petrochemicals joint venture in Saudi Arabia are expected to announce the go-ahead for the project “real soon,” one source tells CW. The announcement for the jv, likely to require an investment of $18 billion-$20 billion, could be made within the next few weeks. The complex will comprise more than 30 manufacturing units, half of which are expected to be online in the third quarter of 2015. “This is the largest, single petchem development ever done,” one industry expert says....
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