Saudi Aramco, Sumitomo expand Rabigh II petrochemical project

Saudi Aramco, Sumitomo to expand Rabigh II petrochemical project

9:30 AM, 25th May 2012
Saudi Aramco, Sumitomo to expand Rabigh II petrochemical project

TOKYO, JAPAN: Sumitomo Chemical and Saudi Aramco have been working closely to undertake a joint feasibility study for the Rabigh Phase II project. Based on this, Sumitomo has confirmed that the companies have agreed to go ahead with a $7 billion expansion of the Rabigh II petrochemical project. The project, which is due to start operations in early 2016, is a key part of Saudi plans to diversify its energy portfolio and boost earnings from downstream activities.

The companies will move ahead with the engineering, procurement and construction (EPC) and other projects contracts, as well as project financing. Under Rabigh II, an existing ethane cracker will be expanded and a new aromatics complex will be built using around 3 million tonne per year of naphtha to make higher-value petrochemical products.

Also, with respect to acrylic acid, superabsorbent polymer (SAP), caprolactam, nylon-6 and polyols, Sumitomo Chemical and Saudi Aramco will explore the best possible mode of operation to implement projects on those product lines, including possible collaboration with a third party. Sumitomo Chemical and Aramco hold a stake in Rabigh Refining & Petrochemical Company (Petro Rabigh).

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