PetroRabigh to invite bids for second phase in 1-2 months

10-Mar-11

Saudi-based PetroRabigh plans to invite bids for work related to the second phase of its giant petrochemicals complex in 1-2 months. The second phase of PetroRabigh, which will add 17 new plants, will not see expansion of refinery capacity, but the ethane cracker will be expanded by 30 mln cubic feet per day. A final investment decision on PetroRabigh Phase II would be made by the end of 2011, based on the way costs move. The financing will also determine equity partners of the expansion. PetroRabigh is a joint venture between Japan's Sumitomo Chemical and Saudi Aramco and produces an annual 18 mln tons of refined products and 2.4 mln tons of petrochemicals. The complex is integrated with a 400,000 bpd crude refinery.