Saudi Aramco signs agreements to acquire $12 billion project in Jizan | latest news


Saudi Aramco has signed definitive agreements that include asset purchase and acquisition financing for a $12 billion joint venture in Jizan.

In a joint statement, Aramco said that the agreements included Air Products, ACWA Power, and Air Products Qudra, a subsidiary of Air Products.

The joint venture serves the Aramco refinery in Jizan, which has a refining capacity of 400,000 barrels per day of crude oil to produce petroleum derivatives.

And about two weeks ago, CNBC Arabia quoted sources as saying that the consortium of companies that owns the Jazan Gasification and Energy Production Complex in Jazan Economic City, which includes the oil giant Aramco, is in the process of working. Obtaining approximately $5.6 billion in financing for financial closure.


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