JUBAIL, 22 October 2003 — The Jubail-based Project Management & Development Co. (PMD) has received a notice of allocation of feedstock from Saudi Arabian Oil Company (Saudi Aramco).
This follows a review by Saudi Aramco of PMD’s project proposal and its acceptance of PMD’s planned integrated petrochemicals complex project, according to press release from PMD President and CEO Majed A. Al-Ahmadi.
PMD’s project will be the largest private sector petrochemical project in the Middle East with an expected total investment of $3.5 billion.
The business plan envisages that PMD will crack the allocated feedstock, comprising ethane and mixed butanes and will produce 1,350 KTA of ethylene in addition to commercial quantities of propylene and benzene.