20/04/2015 15:02 AST
Acwa Holding, a regional infrastructural developer in the power and water sectors, said along with its joint venture partner US-based Air Products, it has won a major contract from Saudi Aramco to build, own and operate the world's largest industrial gas complex in the kingdom.
The new facility will be majority owned by Acwa Holding (75 per cent), while Air Products will have 25 per cent stake.
A major industrial gases company, Air Products said on completion the complex will supply 75,000 metric tonne per day (20,000 MT of oxygen and 55,000 MT of nitrogen) to Saudi Aramco's refinery being built in Jazan area of the kingdom for 20 years.
The complex will be designed and built by Air Products using its proprietary technology.
Commenting on the contract win, Seifi Ghasemi, the chairman, president and CEO at Air Products, said: "We are very excited on being awarded this very significant project. We consider it an honour and a privilege to use our proprietary technology to design and build the world's largest industrial gas complex for an outstanding client and the largest company in the world, Saudi Aramco."
"We are very pleased that Saudi Aramco trusts Air Products and our partner Acwa Holding to economically and reliably supply the critical gases needed for its refinery in Jazan," he stated.
"This award also demonstrates the value of our outstanding relationship with our partner in ACWA Holding, who has worked so closely with us to develop this great project," he added.
Acwa chairman Mohamed Abunayan said: "We are proud and thrilled to be selected as the partner of choice by Saudi Aramco to develop this world scale industrial gases project."
"This mammoth undertaking complements the portfolio of power, water, renewable energy, district cooling, integrated waste and resource recovery projects of Acwa Holding as the premier infrastructure developer in the region," noted Abunayan.
The partnership with Air Products, the world leader in the field, is further testimony to Acwa Holding's superior capability to develop large and critical infrastructure projects in Saudi Arabia and the region," he added.
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