The joint venture (JV), Rabigh Refining and Petrochemical (PetroRabigh), is expected to expand its petrochemical complex to increase capacity. Both the partners are expected to offer shares in the venture to the public in the near future, Reuters revealed.
PetroRabigh will be looking to Asia for growth, especially India and China. The new complex is reported to have a capacity of 18.4 million tons of oil products, 1.3 million tons of ethylene and 900,000 tons of propylene per annum. The petrochemical complex is expected to come online by late 2008.
