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Dow Chemical, Saudi Aramco form Sadara JV

November 30/2011
(marketwatch) -- Dow Chemical Co. said Monday that it has officially formed its joint venture Sadara Chemical Co., with state-giant Saudi Arabian Oil Co., or Saudi Aramco, to build one of the world's largest chemicals plants in the oil-rich kingdom's Eastern Province on the Persian Gulf coast.

Saudi Aramco, the world's biggest oil company, and Dow Chemical signed last month a joint venture shareholders' agreement to build the complex in Jubail. First production units are expected to come on line in the second half of 2015, while all units are expected to be up and running in 2016.
Sadara will produce polyeurethanes, propylene oxide, propylene glycol, elastomers, linear low-density polyethylene, low density polyethylene, glycol ethers and amines.

Saudi Arabia is ploughing billions of dollars into developing its petrochemical industry in a bid to add value to its vast hydrocarbon resources and to create jobs for its young and growing population.
Last month, Abdulaziz Al Judaimi, Aramco's vice president responsible for chemicals, told reporters in Dammam that the joint venture will award all engineering, procurement and construction, or EPC, contracts on its $20 billion petrochemical complex by the second quarter next year.

About 50% of the capital investment amount is already under contract and "the rest are being tendered. And the awards will be first quarter and second quarter of next year," Al Judaimi said.
The Sadara project represents Aramco's second major investment in a large-scale petrochemical complex in the kingdom, where it is already involved in a joint venture with Sumitomo Chemical Co.(4005.TO) at Rabigh on the Red Sea.

The Polymers Summit ICIS-MRC Ц 2011 has started today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.

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