SAUDI ARABIA: Saudi Aramco & Sumitomo to transfer Rabigh II ownership to Petro Rabigh

The Rabigh II project, expected to cost about $8.5-billion, involves expanding an existing ethane cracker and adding production of ethylene propylene rubber, thermoplastic polyolefins, methyl methacrylate monomer, polymethyl methacrylate, low-density polyethylene (PE)/ethylene vinyl acetate, paraxylene/benzene, cumene and phenol/acetone.

The joint venture currently has a cracker to produce 1.3-million t/y of ethylene and 900,000 t/ of propylene, as well as downstream production of PE, polypropylene, propylene oxide, ethylene glycol and butene-1.

The board of directors of Petro Rabigh expects the ownership transfer to be completed in the fourth quarter of this year, subject to certain conditions being satisfied.

Source: Weekly "PetroChemical News", Durham, NC, USA; 11 Aug 2014
(Syed Rashid Ali, Karachi, Pakistan)