JEDDAH, 22 May 2007 — Eight Saudi companies including Nama Chemicals, Arabian Water & Energy Development Co., and Advanced Petrochemicals and Refineries Co. have been approved to bid for the construction and operation of a new refinery in Jizan.
The Petroleum and Mineral Resources Ministry, which shortlisted the companies from 15 applicants, said qualified international companies would be invited to take part in the project.
“A coalition will be formed with one or more Saudi companies and one or more international oil giants to win the franchise for establishing and operating the refinery,” said Yahya ibn Abdul Kareem Al-Zaid, supervisor of the project. He said the ministry would soon prepare details of technical, financial and legal requirements for the project. Other Saudi companies qualified are: National Industrialization Co., Obaikan Investment Group, Al-Jazeera Industrial and Petroleum Services Co., Enery Company, and Abdul Qader Al-Bakry & Sons.
The refinery is part of the Jizan Economic City, which is expected to attract more than SR100 billion in investment and create nearly 500,000 jobs. Custodian of the Two Holy Mosques King Abdullah announced plans to establish the refinery while launching the economic city. He then instructed the Ministry of Petroleum and Minerals to conduct a feasibility study on the refinery.
