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Aramco, Dow Eye $4 Bln Savings on Petchem JV-Paper - ASHARQ AL-AWSAT English Archive
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KHOBAR, Saudi Arabia, (Reuters) – Saudi Aramco and Dow Chemical expect to save around $4 billion on their joint petrochemical complex as slowing economic activity cuts project costs, the al-Hayat newspaper reported on Wednesday.

The estimated cost of the plant was at least $20 billion before reduction, al-Hayat said. The fall was due the global economic situation, the newspaper reported sources as saying.

The project at the Saudi energy hub of Ras Tanura is two years behind the. Dow and Aramco are expected to make an investment decision on it next year.

If it goes ahead, Dow’s investment would be the largest ever single foreign investment in the Saudi energy sector.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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