The signing ceremony
SaudiAramco and Yanbu Aramco Sinopec Refining Company (Yasref) signed a Venture Framework Agreement (VFA) intended to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia, according to an emailed statement to Argaam today, April 9.
Coinciding with Yasref’s 10thanniversary, the agreement seeks to advance engineering studies for the development of a fully-integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%).
The project aims to maximize operational synergies and create additional value through introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex.
This is expected to enhance Yasref’s ability to meet growing demand for high-quality petrochemical products.
The signing ceremony
SaudiAramco and Yanbu Aramco Sinopec Refining Company (Yasref) signed a Venture Framework Agreement (VFA) intended to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia, according to an emailed statement to Argaam today, April 9.
Coinciding with Yasref’s 10thanniversary, the agreement seeks to advance engineering studies for the development of a fully-integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%).
The project aims to maximize operational synergies and create additional value through introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex.
This is expected to enhance Yasref’s ability to meet growing demand for high-quality petrochemical products.
