Saudi Aramco and Japan’s Sumitomo Petrochemical Chemical Company will soon award the project for the expansion of the Rabigh petrochemical plant project with a contract value of several billion dollars.

Rabigh petrochemical plant Phase II total cost is estimated to be 7 billion US dollars. The currently selected bidders include Brazil Petrofac, South Korea GS construction project, Italy Saipem and Japan JGC. Saudi Arabia hopes bidders will lower their quotation and plan to sign an agreement this week.

Rabigh II will expand existing equipment and build new equipment, which can process 3 million tons of naphtha per year into high value-added petrochemical products.

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