Several petrochemicals projects are being established in the Saudi kingdom in a bid to reduce its reliance on crude exports. Also included in this expansion plan is the first ethylene cracker in Saudi Arabia to be owned by the private sector.
A contract to build a US$1.2 billion ethylene cracker in Saudi Arabia's industrial city of Jubail, has been awarded to Germany's Linde AG and South Korea's Samsung Engineering Co. The Saudi group which awarded the contract included Tasnee Petrochemicals Co., Sahara Petrochemicals Co. and Saudi International Petrochemical Co. Basell Polyolefins is also a partner in the project. Building work is expected to commence by Q1 2006 while operations are to begin by the second half of 2008. Saudi Aramco will provide feedstock and fuel for the plant.Upon completion, the complex is to produce 1 million tpa of ethylene and 300,000 tpa of propylene.
With a competitive advantage in petrochemicals, Saudi Arabia aims to promote investments in this industry to double the country's petrochemical share from the global output, which currently stands at 7% to 13% by decade end.
22-Jul-05 
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