Saudi Aramco in $8-bln JV with Air Products and ACWA
Saudi Arabia The USD 8-billion company will operate in Jazan Economic City in Saudi Arabia. US-based Air Products will hold at least 55% of the stakes in it, the press release added.
“The Gasification/Power JV will be central to the self-sufficiency of our megaprojects at Jazan,” said Abdulaziz Al Judaimi, Aramco’s senior vice-president for downstream.
“The JV will enhance the overall value of the refinery and integrated gasification combined cycle power plant, and aid in transforming the province by positioning JEC for additional foreign direct investment and private sector involvement.”
Saudi-headquartered ACWA Power develops and operates power and water desalination plants in the Middle East and Africa.
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