King to inaugurate launch 29 industrial and development projects worth SR68 bln projects in Jubail

23-May-08

King Abdullah will launch 29 industrial and development projects worth more than SR68 bln in Jubail. The King will lay the foundation for 4 Royal Commission projects involving a total investment of SR7.1 bln. The SABIC projects to be launched by the king are: Expansion of National Industrial Gas Company (SR1.31 bln), expansion of Saudi Methanol Company (SR3.5 bln), Saudi Iron & Steel Co. (SR3.77 bln), Jubail United Petrochemical Company's Linear Alpha Olefins plant (SR1.2 bln), and National Gas Company's expansion project (SR1.28 bln). King Abdullah will also launch the following private sector projects involving a total investment of SR50.2 bln : Saudi Polymers Company (Chevron-Philips) involving a capital investment of SR19.5 bln) and expansion of Saudi Aramco Shell Refinery (Sasref) with an investment of SR1.3 bln in addition to 9 other projects worth SR7.2 bln. Saudi Ethylene & Polyethylene Company (SR9.5 bln), Jubail Chevron Philips Company (SR4.9 bln), Advanced Polypropylene Company (SR2.9 bln), and Chemical Methanol Company (SR1.51 bln) in addition to five other projects worth SR2.2 bln will also be launched during the king's visit.