Middle East Economic Survey

VOL. XLIX

No 9

27-February-2006

SAUDI ARABIA

Rabigh Refining/Petrochemical Project Costs Jump To $10Bn

The cost of Saudi Arabias Rabigh refining/petrochemicals project has, like many others, succumbed to rising engineering, procurement and construction (EPC) prices, reaching $9.9bn before the project has even started, MEES learns. Rabigh was scheduled to achieve financial close this week and an announcement was expected from the sponsors regarding the increase in costs....