September 8, 2008

Delay Seen for Full Launch of Sumitomo Chemical’s Saudi Complex

Tokyo, Sept. 8 (Jiji Press)--Sumitomo Chemical Co. said Monday that the full-fledged operational launch of its oil refinery and petrochemical complex in Saudi Arabia is seen to be delayed to January-March 2009.

This is because of a technical problem that has delayed the launch of part of the facilities, according to the major Japanese chemical maker.

Sumitomo Chemical initially planned to start the full-scale operations of the complex, located in Rabigh on the western coast of Saudi Arabia, by the end of this year.

The company now expects the total investment in the project will reach 10.1 billion dollars, up by 300 million dollars from the initially estimated level.

The project is a joint business between Sumitomo Chemical and Saudi Arabian Oil Co., better known as Saudi Aramco. The oil refinery and petrochemical complex will be one of the largest in the world.END

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