Aramco, Sumitomo may defer a US$6 bln expansion plan of Rabigh JV

20-Feb-12
Saudi Arabian Oil Co. and Sumitomo Chemical Co. may postpone a US$6 bln plan to expand their joint-venture petrochemical plant in the Red Sea town of Rabigh, as per HSBC Holdings Plc. Sumitomo may seek to delay the expansion due to financial concerns. Hence, it may not be feasible for Saudi Aramco to proceed alone as it is already investing in other refining and chemical plants.
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