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Aramco and Sumitomo Inaugurate Petro Rabigh; Investment Decision on Phase II by End of 2010

4:43 AM MST | November 9, 2009 | Natasha Alperowicz

Saudi Aramco and Sumitomo Chemical held an official inauguration ceremony yesterday for their $10.3 billion Petro Rabigh petrochemical joint ventrue at Rabigh, Saudi Arabia. The ceremony was attended by Ali Al-Naimi, Saudi Arabia's Minister of Petroleum and Mineral Resources; Khalid A. Al-Falih, CEO of Saudi Aramco; chairman of Sumitomo Chemical, Hiromasa Yonekura; and Ziad Al-Labban, CEO of Petro Rabigh. The complex comprises units producing 1.3 million m.t./year of ethylene, 900,000 m.t./year of propylene, as well as 60,000 bbl/day of gasoline and other...

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