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Saudi- Ras Tanura clean fuels project delayed
(MENAFN- Arab News) ALKHOBAR: Saudi Aramco has suspended plans to build a $2 billion clean fuels plant at its largest oil refinery in Ras Tanura three industry sources said.
The Ras Tanura clean fuels project including a naphtha hydrotreater was to be part of a second phase of upgrades to Aramco's refineries and was originally due to go on stream in 2016.
'They withdrew the bidding' said one source familiar with the matter.
Another source said: 'They indicated they will postpone the project by a year and rebid.'
Aramco invited bidders in 2013 for the Ras Tanura project but later decided to hold another round as proposals were higher than its budget.
The company also canceled one of the packages for paraxylene production after finding it was not economically feasible.
The new round of bidding was due to close in mid-November but was postponed before the decision was taken to delay the project one of the sources said.
The Ras Tanura clean fuels project including a naphtha hydrotreater was to be part of a second phase of upgrades to Aramco's refineries and was originally due to go on stream in 2016.
'They withdrew the bidding' said one source familiar with the matter.
Another source said: 'They indicated they will postpone the project by a year and rebid.'
Aramco invited bidders in 2013 for the Ras Tanura project but later decided to hold another round as proposals were higher than its budget.
The company also canceled one of the packages for paraxylene production after finding it was not economically feasible.
The new round of bidding was due to close in mid-November but was postponed before the decision was taken to delay the project one of the sources said.
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