SAMAREC OUTLINES $4 BILLION UPGRADING PLANS

The first phase of Saudi Arabian Marketing and Refining and Co.'s (Samarec) $4 billion, three stage program to upgrade its refining capacity will make substantial volumes of reformulated gasoline available for export. The state owned company disclosed details about its 10 year investment program earlier this month after letting contract in London to Foster Wheeler USA as program management contractor.

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