Saudi Aramco seeks Dow as partner in petrochemical complex

31-Jan-07

Saudi Arabia's national oil company - Saudi Aramco, seeks America's Dow Chemical Company as a partner for the construction of a petrochemical complex at Ras Tanura. Ras Tanura, the world's largest petroleum port, is located in the eastern region of the kingdom, north of Dhahran. If the two companies reach an agreement, they would set up a new unit that will be named Ras Tanura Petrochemicals Company, at an estimated capital investment of more than $15 billion. This amount is not included by Saudi Aramco in its US$80 billion oil and refinery investments earmarked for the coming five years.