Dow and Saudi Aramco

sign joint venture agreement

  • November 9, 2011
  • 214 views
  • Dow and Saudi Aramco
    Dow and Saudi Aramco

Aramco President and CEO Khalid A. Al-Falih and Dow's Chairman and CEO Andrew N. Liveris recently signed the Joint Venture (JV) Shareholders’ Agreement for the planned Sadara Chemical Company. Dow states this event to be a major step towards the Sadara project: consisting of 26 manufacturing units, several of which constitute “mega projects” in themselves, Sadara will be the largest ever integrated chemicals facility to be built in a single phase. Site preparations in Saudi Arabia have already begun.

“Sadara is an extraordinary and unique venture that will build upon the strengths of both Dow and Saudi Aramco to deliver the diversified and specialty materials and chemicals needed to drive growth in the entire region and beyond," said Andrew Liveris, Dow’s Chairman and Chief Executive Officer.

“I am confident that Sadara will be a game-changer in the Kingdom’s petrochemical industry as it has all the needed ingredients for success. It is a unique partnership that will be a success story for generations to come”, Al-Falih added.