Saudi Aramco awarded the contract for the project to ACWA Holding and Air Products in 2015. Following the contract award, the two companies formed JGPC, a joint venture that will build, own, and operate the facility.

The gas complex will serve Saudi Aramco’s Jazan Refinery and Terminal. Once completed, it will become the largest industrial gas facility in the world.

Commenting at the ground-breaking ceremony, Mohammad Abunayyan, majority shareholder and chairman of the boards of JGPC and ACWA Holding, said: “Since the contract was awarded, we are very proud to have demonstrated outstanding infrastructure financing, which has enabled us to be well advanced with the build schedule.

GCC CIGRE, The 11th GCC – CIGRE International Conference and 20th Exhibition for Electrical Equipment , GCC Power 2015 Conference & Exhibition, will be held in Hilton Hotel– Jeddah, Kingdom of Saudi Arabia from 3rd to 5th November 2015. In addition, Tutorials will be held on 2ndof November 2015. This event gives participants the opportunity to learn about the latest developments in the electricity and energy industry, as well as providing exhibitors with access to the most lucrative deals.

According to Saudi Arabia’s National Commercial Bank (NCB), the total value of awarded contracts in 2011rose to SR270bn, exceeding the previous high of SR207bn that was reached in 2009, Arab News has reported. The increase was mainly driven by the amount of mega-projects that were awarded during the second half of last year, NCB said. In the second half of 2011 alone, the value of awarded contracts reached an impressive SR188.2bn, which was higher than the total value of awarded contracts during all of 2010, the lender said.

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Rotary Engineering has won a $34m contract to build storage tanks for a power plant in Saudi Arabia.

The Singapore based company, which provides construction and engineering services, will build 17 field storage tanks that will be used to store fuel oil. Work on the tanks will start in June and is expected to be completed next year.

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Six industrial mega projects worth a total of $5.6bn have been approved for construction in Jubail by the Royal Commission for Jubail and Yanbu.

The deals were signed by Commission Chairman Prince Saud bin Abdullah Thunayyan, at Jubail Industrial City on Sunday, who said the projects are expected to generate huge employment opportunities for the region.

The largest deal is for the construction of a $3.2bn facility to produce ethylene propylene diene monomer, rubber and black carbon that are used in automobile industry. The deal was signed with the Al Jubail Petrochemical Company (Kemya), a joint venture between Saudi Basic Industries Corp. and Exxon Mobil Corp.

The new factory will cover 32.7 hectares and supply automotive markets globally.

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