Sadara petrochemical complex, a joint venture project between Saudi Aramco and US-based Dow Chemical, is set to complete construction works in mid-2015 and go into full operation in the following year, local media said.
The Jubail-based Sadara project is said to represent the largest foreign direct investment in the Saudi petrochemical industry whose construction costs are estimated at $19.3 billion (SR72 billion), the media said.
Talking to local media, CEO of the company Ziad Al-Labban said 50 percent of construction works had completed. By the end of February, 70 percent and 68 percent of offsite and utilities (O&U), and mixed cracker units were, respectively, complete, he added. The project will reportedly contain 26 production units that will produce over 3 million tons of chemical and plastics products, including amines, glycol ethers, polyether polyols, polyethylene and propylene glycol.
According to the agreement between the two giant companies, Saudi Aramco will market products in the Middle East region whereas Dow Chemical will market 80 percent of the products in global markets.