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Tuesday 29 Dec 2015 - 16:41 Makkah mean time-18-3-1437
Jeddah, (IINA) - Saudi Aramco intends to build the largest industrial complex for gas in the world at a cost of $2.1 billion in Jazan, Arab News reported.
The new project will supply 20,000 metric tons of oxygen and 55,000 metric tons of nitrogen to its Jazan refinery for 20 years.
To be opened in 2017, the production capacity of the new Aramco oil refinery would be 400,000 barrels a day, with the production capacity of the gas-to-liquids integrated plant at 3,700 megawatts.
Chairman of the Arabian Company for Water and Power Development (ACWA) Mohammad Abunayan said that the project indicates the strength of the Saudi economy and public-private partnerships.
He said the selection of ACWA to carry out the project, showed Aramco’s faith in its capabilities to develop giant infrastructure projects with strategic importance in the Kingdom.
Ten international and national banks participated in financing the project with $1.8 billion. The project won an award for best financing in the Middle East out of about 180 projects in 2015, and the biggest and best project in the world in terms of its 100 percent Islamic funding.
AG/IINA
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