Dow Chemical Co. has officially formed its joint venture Sadara Chemical Co., with state-giant Saudi Arabian Oil Co.(Saudi Aramco), to build one of the world's largest chemicals plants in the Saudi kingdom's Eastern Province, as per Dow Jones. Sadara will produce polyeurethanes, propylene oxide, propylene glycol, elastomers, linear low-density polyethylene, low density polyethylene, glycol ethers and amines. Last month, Saudi Aramco and Dow Chemical signed a joint venture shareholders' agreement to build the complex in Jubail. First production units are expected to come on line in H2-2015, while all units are expected to be up and running in 2016.
All engineering, procurement and construction (EPC) contracts on the US$20 bln petrochemical complex will be awarded by the Q2-2012.