Aramco plans $20bn Yanbu facility to open in 2023
The 400,000bpd facility could be constructed alongside Aramco's existing refinery in Yanbu, which currently produces 240,000bpd
Saudi Aramco is in considerations to construct a refining and petrochemical complex, worth $20bn, in Yanbu by the Red Sea coast.
According to Reuters, the new refinery will boast a capacity of 400,000 barrels per day (bpd).
It is likely the new refinery, which could feed the planned petrochemical complex, will stand alongside Aramco's existing Yanbu facility, which produces 240,000 bpd.
Sources cited in the report said Amec Foster Wheeler could win the contract to carry out front-end engineering and design work for the facility.
The project, planning for which is still in the initial stages, would be completed in 2023 if it goes ahead, one of the sources said according to the report.