Saudi Aramco, the state-owned oil company of Saudi Arabia, expects to start initial operation of its new 400,000 barrels per day refinery complex in the port city of Jizan in 2017, said its chief executive officer.

The Jizan refinery is part of a $20 billion plan to develop an industrial city in Jizan in south-western Saudi Arabia, which would also include a 4,000 megawatt (MW) power plant, a commercial port, and a refinery terminal, said a company statement.

Khalid al-Falih, CEO of Saudi Aramco, said: “We expect start-up of some of the units, especially utilities, to take place in 2017, but the final completion would be in 2018 so that is the plan now.”

“The foundation work is already ongoing by some of the construction contractors,” he added.

The Jizan refinery, valued at $6 billion to $7 billion, is the centrepiece of a wider plan to revive the local economy in one of the poorest regions of the country, it added. – TradeArabia News Service