The Saudi Arabian Oil Company (Saudi Aramco) and the Dow Chemical Company announced today the official formation of "Sadara" Chemical Company, a joint venture between the two companies. "Sadara is poised to become a significant contributor for Saudi Aramco's transformational downstream growth strategy. I'm pleased to see that this game-changing enterprise has now become a reality," said Khalid A. Al-Falih, President and CEO, Saudi Aramco. "I am confident that Sadara will be a success story for many generations to come, and this unique partnership will help foster downstream industries and support industrial diversification that adds significant value to the Kingdom's hydrocarbon resources,” he said. “Today's announcements mark another exciting and significant step forward for Sadara as it fulfills its commitment to building and operating a world scale, fully integrated chemicals complex in Jubail Industrial City,” said Andrew Liveris, Dow's Chairman and Chief Executive Officer. --MORE
