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Aramco, Sumitomo expect PetroRabigh expansion cost to jump to SR32bn

: Monday, May 19 - 2014 @ 11:07

PetroRabigh, a joint venture between Saudi Aramco and Sumitomo Chemical, has said the expansion of the petrochemicals complex is now expected to cost SR32bn ($8.5bn), higher than previously estimated, Reuters has reported. The expansion plan, which aims to increase output from the plant as well as introduce higher-margin products, was originally estimated to cost around $7bn. The JV has had a number of setbacks because of maintenance issues in 2013 at its existing facility including power cuts and an outage at its ethane cracker. A company spokesman declined to provide further information.

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Monday, May 19- 2014 @ 11:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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