Sadara - the joint venture of Saudi Arabian Oil Co. and Dow Chemical Co. (DOW) will award all engineering, procurement and construction (EPC) contracts by the second quarter next year.
About 50% of the capital investment amount is already under contract and "the rest are being tendered.
Saudi Arabian Oil, the world's biggest oil company better known as Aramco, and Dow Chemical signed a joint venture shareholders' agreement to build one of the world's largest chemicals plants in the oil-rich kingdom's Eastern Province on the Persian Gulf coast. Construction of the 26 plants that will make up the chemical complex--known as Sadara Chemical Co., is scheduled to begin immediately, with first output due to come on line in H2-2015 and full operation scheduled for the following year.
Sadara will produce polyeurethanes, propylene oxide, propylene glycol, elastomers, linear low-density polyethylene, low density polyethylene, glycol ethers and amines.