Saudi Aramco plans to build the world’s largest industrial gas complex at a total cost of US$2.1bn in Jazan
The new project will supply 20,000 metric tonnes of oxygen and 55,000 metric tonnes of nitrogen to its Jazan Refinery for 20 years, the Arab News reported.
The production capacity of the new Saudi Aramco oil refinery, scheduled to open in 2017, would be 400,000 bpd with the production capacity of the gas-to-liquids integrated plant at 3,700MW.
Arabian Company for Water and Power Development (ACWA) will carry out the project.
Mohamed Abunayan, ACWA chairman, said, “The selection of ACWA to carry out the project shows Saudi Aramco’s faith in its capabilities to develop giant infrastructure projects with strategic importance in the Kingdom.”
He added that the financing of the project is Shariah-compliant and would be developed with Air Products and Chemicals company in a build, own and operate agreement. Ten international and national banks will finance the project with US$1.8bn.
According to the contract, ACWA will own 75 per cent of the project while Air Products will own the remaining 25 per cent.
