Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Multibillion-riyal chemical ventures to sell shares  Join our daily free Newsletter

MENAFN - Arab News - 11/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The government plans to sell shares of Saudi Aramco Total Refining and Petrochemical Company (Satorp) and Sadara Chemical Company to citizens in an initial public offering, said Petroleum and Mineral Resources Minister Ali Al-Naimi



"We'll sell part of Sadara and Satorp to citizens in the future at cost rate," the minister said after inspecting progress of work at the two projects



The Satrop, a joint venture between Saudi Aramco and Total of France, involves a total capital investment of SR52.87 billion.



The initial stages of the project started in 2006, with construction commencing in 2010.



The world-class refinery, Satrop will process 400,000 barrels per day of Arabian Heavy crude oil into high-quality fuels.



It will also produce petrochemicals that can be feedstock for small- and medium-sized manufacturing businesses.



Saudi Aramco and the Dow Chemical Company established Sadara, a joint venture that will construct, own and operate a world-scale integrated chemicals complex in Jubail Industrial City II



Sadara and the adjoining conversion parks will establish a world-scale manufacturing footprint that delivers a full range of value-added, performance products destined for the emerging markets of Asia, the Middle East and Africa



Employing best-in-class technologies from Dow, the Sadara world-scale chemical complex will produce over 3.2 million tons of performance, value-added chemical and plastics products



The minister, who was accompanied by top officials, also visited Jubail Energy Services Company

 


Arab News




  MENA News Headlines
 Dec 22 2014 - MoI discusses setting up national strategic plan to fight drugsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Ministry of Interior, MoI, has discussed ways to establish the first national strategic plan to combat drugs. The discussion took place during a specialised ...

 Dec 22 2014 - GCC Secretary-General hails initiative of Saudi King on Qatar, Egypt reconciliationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dr. Abdullatif bin Rashid Al Zayani, GCC Secretary-General, expressed satisfaction with the initiative of the Custodian of the Two Holy Mosques, King Abdullah ...

 Dec 22 2014 - Etihad Airways goes double daily to MelbourneEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Etihad Airways today announced plans for a second daily non-stop service between Abu Dhabi and Melbourne from 1st August 2015.The additional flight will be ...

 Dec 22 2014 - Dubai Municipality launches recycling initiative at Safa ParkEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dubai Municipality has launched an initiative to encourage Safa Park visitors to exchange their recyclables, such as plastic and cans, in exchange for Union ...

 Dec 22 2014 - Ducab Aluminium begins construction of new facility in KizadEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Abu Dhabi Ports Company, ADPC, has announced that Ducab Aluminium Company has broken ground for its new aluminium rod and conductor facility at Kizad.After ...

 Dec 22 2014 - Kuwaiti Emiri Diwan mourns death of Sheikha Sabah Al-Nasser Al-SabahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Kuwaiti Emiri Diwan today mourned the death of Sheikha Sabah Al-Nasser Al-Sabah, spouse of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.According ...

 Dec 22 2014 - OPEC daily basket price Friday 19th DecemberEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The price of OPEC's basket of twelve crudes stood at US$55.52 a barrel on Friday, compared with $56.30 the previous day, according to OPEC Secretariat ...

 Dec 22 2014 - World Islamic Travel Summit to debut in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The World Islamic Travel Summit, WITS15, the largest showcase of Halal travel and tourism solutions, is to debut in Abu Dhabi next October.The pioneering ...

 Dec 22 2014 - DEWA sponsors first Emirati student to Lima Climate Change Conference in PeruEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Bader Al Hammadi, an Emirati student and Carbon Ambassadors Programme member, has participated in the United Nations COP20 Climate Change conference in Lima, ...

 Dec 22 2014 - China tops Algeria's supplier list for second yearEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  China has emerged as Algeria's largest supplier in the first 11 months of 2014, figures from customs showed on Sunday.China topped the list of the largest ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help