Applications for prequalification have been submitted by potential developers for the captive independent water, steam and power project (IWSPP) to serve the $4,300 million integrated refinery and petrochemicals complex at Rabigh. A shortlist is expected to be drawn up by the end of November.
Among the companies understood to be looking at the project are: Itochu Corporation, Marubeni Corporation, Mitsubishi Corporation, Mitsui & Company, Sumitomo Corporationand Tokyo Electric Power Company (Tepco), all of Japan; National Power Company, Saudi Binladin Group, Saudi Ogerand Xenel Industries, all local; Korea Electric Power Company (Kepco); UAE-based AES Oasis Energy; the UK's International Power; and Belgium's Tractebel. The fast-track schedule for the IWSPP, which will have capacity of 400 MW, sees a request for proposals (RFP) issued by the end of the year. Saudi Aramcoand Japan's Sumitomo Chemical Companyare joint sponsors of the Rabigh project, which will see a high-olefins-yield fluid catalytic cracker (FCC) complex integrated with an ethane-based cracker, producing about 1.3 million tonnes a year (t/y) of ethylene, 900,000 t/y of propylene and 80,000 barrels a day of gasoline and other refined products. Sumitomo-Mitsui Banking Corporationis the financial adviser (MEED 15:10:04).
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