Aramco is investing over SAR 90B in Jazan: Official

Mohammed Al-Qahtani, Saudi Aramco’s Downstream President

Saudi Arabian Oil Co. (Saudi Aramco) is investing more than SAR 90 billion in Jazan region, said Downstream President Mohammed Al-Qahtani.  

In his speech at the Jazan Investment Forum today, Nov. 29, Al-Qahtani stated that the most prominent of these investments include the development of infrastructure for Jazan City for Primary and Downstream Industries, and the establishment of Jazan refinery, one of the world’s largest refining projects, to process more than 400,000 barrels per day of oil, as well as a power plant. 

The integrated Jazan Refinery and Petrochemical Complex will produce vanadium concentrate, a metal associated with the clean energy industry sector, he added. The company also began exporting diversified and high-value products, ranging from gasoline, diesel, and chemicals to more sustainable electric power, Al-Qahtani said.  

He further explained that Aramco implemented one of the largest projects of its kind in the world to generate electricity in Jazan using gasification and integrated gasification combined cycle (IGCC). The project has a production capacity of 3,800 megawatts of electricity to meet the refinery's need, in addition to local industries, homes and commercial facilities in the region.