US-based Foster Wheeler Energy has been appointed as a technical consultant to a major petrochemical complex planned by Saudi Arabia's Project Management & Development Co (PMD).
The complex, which will have a total investment value of $3.5 billion, will consist of an ethane/butane cracker producing ethylene, propylene and benzene feedstocks for downstream petrochemical units within the PMD cracker complex.
Currently, Foster Wheeler is conducting an intensive and comprehensive study to provide PMD with capital and operating cost estimates for the planned complex. In parallel, PMD has prepared a project information memorandum to attract interest from potential overseas investors.
The cracker will produce 1.35 million tons a year of ethylene. The plant will be located in Al-Jubail, Saudi Arabia, and it is likely to create 1,500 employment opportunities. When fully operational, it will produce 2.7 million tons a year of marketable products. These products will include polyethylene, polypropylene, ethylene glycol, bisphenol A, and amine derivatives. The plant is planned for start-up in 2008.
Foster Wheeler Energy Limited is an international project management, engineering and construction company offering a range of services worldwide to the energy and industrial sectors, principally serving the oil and gas, refining, chemicals, petrochemicals and polymers, pharmaceuticals, biotechnology and healthcare and power industries. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
