UK Firm Wins $1 Billion Contract

RIYADH, 15 August 2005 — Saudi Arabia’s Eastern Petrochemical Company (SHARQ) has awarded a $1 billion contract to expand its operations in the industrial city of Jubail to Britain’s Stone & Webster, a Saudi newspaper said yesterday. SHARQ, an affiliate of petrochemical giant SABIC, signed up the firm to build a 1.3 million ton olefins complex, which will begin production in the first half of 2008, the Al-Eqtisadiah daily reported.