Saudi Aramco and Dow Chemicals to award contracts

10-Jul-07
Saudi Aramco and Dow Chemicals are expected to award the engineering, design and project management contracts for the mega Ras Tanura petrochemical plant by the end of July. Ras Tanura, a joint venture with state-owned Aramco, would be one of the biggest plants of its kind worldwide and has an estimated cost of over US$20 billion. This mega project marks Dow Chemicals' largest foreign investment in a plastics and chemicals plant in the Saudi energy sector. US engineering and construction companies KBR, Flour and Foster Wheeler are competing for the front-end engineering and design (FEED) and project management contracts for Ras Tanura, estimated to be worth around US$130-140 million.
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