JEDDAH, 18 February 2007 — Geotechnical survey and environmental assessment of the King Abdullah bin Abdul Aziz University of Science and Technology (KAUST) have been completed, Ali Al-Naimi, Minister of Petroleum and Mineral Resources, yesterday said.
Reviewing the progress on the preliminary site preparations of KAUST, the minister said “the geotechnical survey and environmental assessment of the site have been completed and the overall supervision and soil examination as supervised by Saudi Aramco have progressed on schedule.”
KAUST is being constructed in Thuwal, near the city of Rabigh, approximately 60 km north of Jeddah, and lies along the Red Sea coast, between the King Abdullah Economic City to the North and Thuwal Village to the South.
Talking to the Saudi Press Agency (SPA), he said “the King Abdullah bin Abdulaziz University of Science and Technology to be located near the city of Rabigh is the brain-child and dream of the Custodian of the Two Holy Mosques King Abdullah who wanted to establish a world-class graduate research university.” In July 2006, Custodian of the Two Holy Mosques King Abdullah directed Saudi Aramco not only to build the King Abdullah University of Science and Technology, but also to put in place all the required governance and management as well as academic systems to make the university operational. This initiative comes in light of Saudi Aramco’s experience with mega oil projects and corporate social responsibility.
KAUST is envisioned to be a world-class research postgraduate university in the region and internationally.
Al-Naimi also reviewed progress in PetroRabigh, giant joint venture petrochemical facility between Sumitomo Chemical Co. and Saudi Aramco. Members of the PetroRabigh executive and corporate management headed by Saad Al-Dosari, president and CEO of PetroRabigh, welcomed Al-Naimi at the site. The project is due for completion in Oct. 2008.
Saudi Aramco and Sumitomo Chemical have also agreed to form a Saudi Arabian limited liability joint venture company with equal ownership.
This project will provide multiple investment opportunities designed to contribute to the region’s industrial development and stimulate the local economy.
Investment opportunities include independent water, steam and power project to provide utilities requirement for the new joint venture.
