Arab Today, arab today sr 52billion refinery to spur jazan’s growth
Last Updated : GMT 22:57:43
Arab Today, arab today
Arab Today, arab today

SR 5.2-billion refinery to spur Jazan’s growth

Arab Today, arab today

Arab Today, arab today SR 5.2-billion refinery to spur Jazan’s growth

Jazan - Arabstoday

A number of agreements were signed here yesterday to set up Jazan Refinery, which is scheduled to go on stream in 2016, supplying 400,000 barrels of oil products daily. Jazan Gov. Prince Muhammad bin Nasser, who witnessed the signing ceremony, said the refinery would set off the region’s development by attracting new investment projects. Located in the heart of Jazan Economic City in Beesh, the refinery would cover 12 sq. km. The SR 5.2 billion refinery will provide more than 5,000 jobs including 4,000 indirect jobs. The refinery will be capable of processing Arabian Heavy and Arabian Medium crude oil and produce gasoline, ultra-low sulfur diesel and benzene. The marine terminal at the facility will have the capability of receiving very large crude carriers for the supply of crude oil to the refinery and will have berths to support refined product exports from the refinery. Khaled Al-Buainain of Saudi Aramco signed the agreements with representatives of eight national and international companies: Abdul Aali Al-Ajami, Petrofac Saudi Arabia Ltd., Hyundai Arabia Co. Ltd., Hanwha Engineering and Construction Corp. (Korea), SK Engineering & Construction Co. Ltd. (Korea), Tecnicas Reunidas (Spain), JGC Corporation (Japan) and Hitachi Plant Technologies Ltd. (Japan). “We witness today the realization of Custodian of the Two Holy Mosques King Abdullah’s vision for the Jazan region,” said the governor. “We hope it would be a good start for other projects in the Jazan Economic City.” Petroleum and Mineral Resources Minister Ali Al-Naimi, who was present at the ceremony, said the project would boost Jazan’s growth, adding that King Abdullah launched the project as part of his vision to achieve a balanced development for all regions. Prince Faisal bin Turki, adviser at the Ministry of Petroleum and Minerals, said the new projects including a seaport and an electricity plant would spur Jazan’s industrial expansion. “Jazan will become a new base for downstream and support industries,” he added. According to Abdullatif Al-Othman, governor of Saudi Arabian General Investment Authority (SAGIA), the refinery will serve as a major attraction for investment in Jazan. “Efforts are under way to speed up the implementation of infrastructure projects at Jazan Economic City to attract industrial and service investment,” he added. Khalid Al-Falih, president and CEO of Saudi Aramco, said the refinery would meet the Kingdom’s growing requirements of refined petroleum products, especially in the country’s southern and western regions. “The surplus products will be exported,” he added. The cutting-edge Saudi Aramco refinery and terminal mega-project will form the backbone of the Jazan Economic City that will transform the economic fortunes of Jazan. Once operational, the refinery will be capable of processing heavy and medium crudes to manufacture approximately 75,000 bpd of gasoline, 250,000 bpd of ultra-low-sulfur diesel, and 80,000 bpd of vacuum residual, which will be sent to an adjacent new power block. In addition, products at Jazan will also include LPG, sulfur, asphalt and more than 1 million tons per year of benzene and para-xylene. From : Arabnews

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