Plant To Be Built on East Saudi Coast
Brazil's Petrobras has signed an agreement with Saudi Arabia's Modern Mining Holding Co. to study plans to build a $450 million calcined petroleum coke plant in Saudi Arabia.
The plant, to be built in Jubail, on Saudi Arabia’s east coast, is expected to produce 700,000 mt of calcined coke a year using raw petroleum coke – ore ‘green coke’ - produced by Petrobras’ refineries. The plant is scheduled to open in 2012.
The two partners in the joint-venture will provide equal amounts of finance for the project and are looking for capital from government and non-government banks.
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