IHS Chemical Week

Regions :: Middle East :: Saudi Arabia

Aramco and Dow Sign Agreement for Saudi Megaproject

1:46 PM MDT | May 23, 2007 | Ian Young

Saudi Aramco and Dow Chemical have signed a detailed memorandum of understanding for a previously announced $20 billion-plus petrochemical complex near Ras Tanura on Saudi Arabia’s east coast. It will be the biggest investment in a grassroots industrial project in any sector, sources say. The agreement covers construction, ownership, and operation of the complex, dubbed the Ras Tanura Integrated Project. Jum’ah: The chemical sector is a key enabler. Dow and Aramco will proceed to final negotiations on forming a joint venture company to build, own, and...

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