50 joint venture between Saudi Aramco and Sumitomo Chemical, will be one of the world's largest and most sophisticated integrated refining and petrochemical complexes. Located on the west coast of Saudi Arabia near Rabigh Port, it has excellent access to European and Asian markets. It is scheduled for completion in the third quarter of 2008 with commercial operations expected to begin in the fourth quarter of that year, according to a report carried by Saudi Aramco's web-site. Benefiting from Saudi Aramco's supply of crude oil, ethane and butane and its strong distribution and marketing networks, as well as Sumitomo Chemical's technical and marketing expertise, PetroRabigh will create new economies of scale that will make it one of the global leaders in the industry. Saudi Aramco will assist in marketing the project's refined products. The facility is being constructed at the site of Saudi Aramco's existing Rabigh Refinery, which produces 19 percent of the Kingdom's current refining capacity. Commissioned in 1989, the refinery has a crude refining capacity of 400,000 barrels per day.
