A $20 billion joint venture between Midland-based Dow Chemical Co. and the Saudi Arabian Oil Co., called Sadara Chemical Co., is on budget and scheduled to be completed next year. The project, located in Saudi Arabia, will be one of the world’s largest chemical complexes.
“Dow’s investment in Sadara represents our focus and commitment to expand participation in attractive markets as we deliver consistent, long-term earnings growth, a key component of our strategy,” says Andrew Liveris, chairman and CEO of Dow Chemical. “Sadara is perfectly positioned to drive this growth in developing markets…”
Construction on the $20 billion Jubail Industrial City, which has 26 manufacturing units, began in 2011 and is nearly completion. Some production is expected to begin this year on polyethylene, a common plastic.
Jubail Industrial City is expected to be fully operational by the end of 2016, and is estimated to deliver annual revenue of about $10 billion within a few years of operation. Liveris says it will also produce products used in paints and varnishes as well as products used in adhesives and sealants.
Dow businesses are planning to market and sell the majority of products produced by Sadara Chemical Co. to support growth in markets such as packaging, construction, electronics, furniture and bedding, automotive, and transportation.
