Tuesday, May 18, 2010

Petrobas In Saudi PetCoke JV

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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