By OGJ editors
HOUSTON, Aug. 2 -- Sumitomo Chemical Co. of Japan and Saudi Arabian Oil Co. (Aramco) have signed an agreement finalizing a 50-50 joint venture to build a $4.3 billion refining-petrochemical complex at Rabigh, Saudi Arabia.
The venture, Rabigh Refining and Petrochemical Co., plans to convert a 400,000 b/d Aramco topping refinery at Rabigh into an integrated refinery and petrochemical complex able to produce 1.3 million tonnes/year of ethylene, 900,000 tonnes/year of propylene, and 80,000 b/d of gasoline (OGJ Online, May 11, 2004).
