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Establishment of Sadara Chemical Company is making significant progress

October 06/2011

(Dow) -- The establishment of Sadara Chemical Company, a planned joint venture under formation between The Dow Chemical Company and the Saudi Arabian Oil Company (Saudi Aramco), is making significant progress following the authorization by the Boards of Directors of both companies in late July.


The two partners are in the final stages of establishing Sadara, and it is expected that the officer and board member nominees will soon be officially announced. The on-line recruitment process for the first in-take of Saudi apprentices commenced in August and the response was overwhelming, with over 6,300 applications received.


Meanwhile, the Engineering, Procurement & Construction (EPC) contract bidding process continues. 50% of the capital investment amount is already under contract with another 20% out for bid. It is expected that all invitation for bids will be out by end of the year.


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