Prequals in for Rabigh IWSPP captive power

05 November 2004
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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