Source: Dow Chemical
Saudi Aramco and The Dow Chemical Company (NYSE:DOW) have announced that a proposed joint venture petrochemical project continues to make progress with the front-end engineering and design (FEED) work expected to be completed in mid-2011.
Saudi Aramco and Dow confirm that they have decided on Jubail Industrial City as the planned site location for the project. The decision comes after having evaluated a broad set of variables, which includes anticipated infrastructure benefits and various potential business integration opportunities.
Jubail Industrial City is the largest industrial complex of its kind in the world. It is located in the Eastern Province of the Kingdom of Saudi Arabia, approximately 100 kilometers north-west of Dammam.
Abdulaziz Al-Judaimi, Saudi Aramco's Vice President responsible for the project said: "We continue to execute the project. The commitment of both partners demonstrates the strategic importance of this project and the benefits of investing in the Kingdom of Saudi Arabia."
Dow Senior Vice President Jim McIlvenny commented: "The project has and continues to benefit from the shared dedication and hard work of top talent from Dow and Saudi Aramco. The project team will continue to evaluate all variables that could impact the ultimate investment decision and the relevant stakeholders."