01 July 2004

Aramco plant progress reviewed
Riyadh: Mott MacDonald said it is reviewing progress and providing advisory services for the construction phase of four separate power plants being built for Saudi Aramco.

The $600 million build, own, operate and transfer (Boot) project is the first time Saudi Aramco has outsourced cogeneration resources for any of its gas processing plants. Mott MacDonald is acting as lenders’ engineer for a consortium of international banks with Banque Saudi Fransi of Saudi Arabia acting as the facility agent.
The power plants are being built by Tihama Power Generation Company, a joint venture between International Power of the UK and Saudi Oger of Saudi Arabia.

Jubail earmarks $8m for site works
Jubail: Prince Saud bin Abdullah bin Thuniyan Al-Saud, chairman of the Royal Commission for Jubail and Yanbu, has signed a SR30.6 million ($8.1 million) contract to implement works for the comprehensive settlement of a strip of industrial areas from the first phase of Jubail 2 project in Jubail Industrial City.
The contract, which was signed with a national company includes digging, transporting and filling operations.
Jubail 2 project will be implemented in four phases and will attract local and foreign capital and provide additional investments of around SR130 billion.

Sharq plans $2.3bn expansion
Riyadh: Eastern Petrochemical Company (Sharq), a 50-50 venture between Saudi Basic Industries Corporation (Sabic) and SDPC, a Japanese consortium of 58 Japanese firms and the government-backed Japan Bank for International Cooperation, will invest SR8.6 billion ($2.3 billion) to boost ethylene output in Saudi Arabia to meet surging demand for petrochemical products from Asia.
Sharq will build a new plant capable of producing 1.2 million tonnes of ethylene a year as well as three other factories producing ethylene glycol and polyethylene in its current industrial complex in eastern Saudi Arabia.
The expansion plan is part of a $6.4-billion investment plan endorsed recently by Sabic. The new plants will start test operations in the first quarter of 2008.

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