Saudi Aramco and Dow Chemical Co have extended a deadline for companies to qualify for bidding to build a giant petrochemical project. This is an indication of the certainty of the project despite earlier doubts about the cost.
Originally the plant was to be built at Ras Tanura and get integrated with an expansion of the refinery. Relocate of the project to Jubail is expected to be save around US$5 bln.
Besides saving money for reclaiming land at Ras Tanura, the new location will benefit from existing infrastructure in place, and synergies with an existing refinery at Jubail and a new one under construction.