Saudi Arabia’s National Industrialisation Company (Tasnee) has bid for the contract to develop the kingdom’s planned $7bn Jizan refinery on the Red Sea coast.

One source at the Riyadh-based company confirmed it filed a bid by the 7 November deadline for the planned 250,000 to 400,000-barrel-a-day facility. “We put our bid in and we are now waiting to hear from the Oil Ministry,” says the source.

On 9 December, Ali al-Naimi, Saudi Arabia’s Petroleum & Mineral Resources Minister, said an award will be made on Jizan “hopefully by the end of the year”.

In February, the ministry prequalified eight local companies and six foreign firms to bid for the refinery. Under ministry rules, each bid must include at least one local firm and one international company.

The local companies that have prequalified are Abdel-Kader al-Bakry & Sons Industrialisation, Acwa Power Development, Advance Refining & Petrochemical Company, Arabian Peninsula for Industrialisation & Petroleum Services, Nama Chemicals, Obeikan Investments, Taqat and Tasnee.

Various foreign majors have also prequalified including Malaysia’s Petronas, India’s Reliance Industries, Taiwan’s Formosa Petrochemical Corporation, China National Offshore Oil Corporation and Brazil’s Petrobras.