Export agency backs British bidding
26 Jun 2013
The UK Export Finance has announced a guarantee of £450 million to companies bidding for Saudi Arabia’s latest petrochemical facility.
The Sadara project, which represents the largest petrochemical plant built in a single phase, will play host to 26 separate manufacturing units.
British companies will be vying for financial support in an effort to join engineering, procurement and construction firms – Jacobs, Fluor and Foster Wheeler, all of which have secured contracts and financial backing under the facility.
The petrochemical facility will be capable of producing performance and value-added chemicals, and a variety of plastics
In a challenge launched by the British Prime Minister; ‘Exporting for Growth’ is a scheme that will attempt to increase exports to £1 trillion per annum by 2020.
Lord Green, minister for trade and investment, stated: “Britain is a world-leader with immense expertise in the engineering, procurement and construction sectors so I am not surprised to see British firms playing a leading role in this project.”
The Sadara site, which is co-sponsored by Saudi Aramco and Dow Chemical Company, will include a mixed-feed steam cracker and aromatics plant.
Additionally, the petrochemical facility will be capable of producing performance and value-added chemicals, and a variety of plastics for use in the energy, transportation, construction, electrical and electronics sectors.
