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Aramco and Dow to build huge plant in Saudi
0 Comments | AFP, May, 2007
RIYADH (AFP) — State oil giant Saudi Aramco has signed a memorandum of understanding with US firm Dow Chemical to build a huge petrochemcial plant in Saudi Arabia, Aramco said in a statement on Saturday.
Saudi Aramco said that negotiations would now begin to set up a joint venture company to build, own and operate the chemicals and plastics production complex at Ras Tanura in northeastern Saudi.
The plant will be built near a oil refinery complex and gas treatment facility at Ras Tanura, Saudi's main oil terminal, it said.
The statement, which did not give a value for the deal, said the new complex would be "one of the largest grassroots plastics and chemicals production facilities in the world."
© 2007 AFP
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