Aramco, Sumitomo expect PetroRabigh expansion cost to jump to SR32bn

May 19, 2014 11:07 am

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.