GS E&C and Saipem Awarded Contracts for Rabigh II Project

Sumitomo Chemical tells CW that Saudi Aramco and Sumitomo have awarded contracts to GS Engineering & Construction (GS E&C; Seoul) and Saipem (Milan, Italy) for their previously announced Rabigh II Project at Rabigh, Saudi Arabia. The Petro Rabigh petrochemicals joint venture of Aramco and Sumitomo decided last month to go ahead with the Rabigh II Project following a joint feasibility study. The project is expected to involve a total investment of about $7 billion. The GS E&C contract is valued at about $1.8 billion and the Saipem contract is valued at...

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