Saudi Aramco Selects Dow for Negotiations on New Petrochemical Complex in Saudi Arabia
The Saudi Arabian Oil Company (Saudi Aramco) has selected The Dow Chemical Company as its potential partner to engage in exclusive negotiations concerning a joint venture company to construct, own and operate a world-scale chemicals and plastics production complex at Ras Tanura, in Saudi Arabia's Eastern Province.
This joint venture would encompass an array of world-scale facilities producing a very broad portfolio of plastics and chemical products.
The proposed petrochemical project would be integrated with the existing Ras Tanura refinery complex, which is one of the world's largest refinery complexes. When fully operational, the new petrochemical complex would be one of the largest plastics and chemicals production complexes in the world and be ideally situated to access most major world markets. The joint venture would produce an extensive and diversified slate of chemicals, and introduce new value chains and specialty products to the Kingdom. The availability of these chemicals in the Kingdom would facilitate the development of downstream conversion industries and the further industrialization of the Kingdom.
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