Three Japanese firms, Marubeni Corporation, Itochu Corporation and JGC Corporation have established a joint venture with ACWA Power in Saudi Arabia to build a power and desalination plant on the petrochemical plant site that Sumitomo Chemical Company plans to start operating in 2008 through a joint venture with Saudi Aramco. About 80% of the project cost is to be borne by the joint venture between Sumitomo and Aramco, believed to have opted for an exclusive power and water supplier to secure steady supplies of energy and water at low cost.
The US $1.1 billion power and desalination plant is expected to supply about 7,405 tons of water an hour and about 380,000 kw of power to the petrochemical plant considered the biggest of its kind in Saudi Arabia. The plant designed to refine about 400,000 barrels of crude oil a day and produce about 1.3 million tpa of ethylene is estimated to generate average annual sales of about US $180 million
05-Aug-05 
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