Saudi Arabia's PetroRabigh Awards $208 mln Contract to Saipem
Saudi Arabia's PetroRabigh said on Monday it had awarded a construction contract for its Rabigh II expansion project to Italian oil service group Saipem.
PetroRabigh, a joint venture between Saudi Aramco <IPO-ARM.SE> and Japan's Sumitomo Chemical, said the total cost of the 30-month contract to expand its petrochemicals complex was 782 million Saudi riyals ($208.5 million).
The contract includes a plant to process and recover vanadium and a unit to dispose of caustic soda.
The contract also includes some other facilities to handle and store chemicals, a statement from the firm said.
The Rabigh II expansion project inlcuded an expansion of an existing ethane cracker and a new aromatics complex to process more than 2.7 million tonnes of naphtha a year to make higher-value petrochemical products.
(Reporting by Maha El Dahan)
