Sector News

PetroRabigh to launch bid process for complex units

October 5, 2015
News

(Reuters) – Saudi Arabia’s PetroRabigh will launch the bidding process on Monday to build new units.

The new units will include one to produce clean fuel, at its petrochemical and refining complex in Rabigh, it said.

It will launch engineering, procurement and construction (EPC) tenders for a polyether polyols plant with a capacity of 220,000 tons per year, a 17,000 barrels per day naphtha treating unit to produce clean fuel and a 106,000 tons per year sulphur recovery unit (SRU), it said in a bourse statement.

If the bids are approved work would start in the second half of 2016, the company, a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical, said. It did not give a value for the project.

In June, industry sources told Reuters PetroRabigh planned to build the units with contracts likely to be awarded in the first quarter of 2016.
PetroRabigh separately said it would postpone a 50-day shutdown, which had been scheduled to start on Sunday, by one week.

The firm will bring offline its refining and petrochemical complex at Rabigh on the Red Sea coast on Oct. 11, it said in a bourse statement.

As a result of the shutdown, gross profit for the fourth quarter of this year is expected to drop by 900 million riyals ($240 million), the company said, adding this estimate was subject to change.round the world.

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