Dhahran, Saudi Arabia -- The Dow Chemical Co. and Saudi Arabian Oil Co. (Saudi Aramco) have announced the official formation of Sadara Chemical Co. (Sadara), a joint venture between the two companies.
The companies also announced Sadara's board of directors and senior officers in a 28 Nov news release.
The Sadara board has eight members, with Abdullatif Al-Othman, senior vice president, engineering and project management, Saudi Aramco as chairman, and James McIlvenny, Dow senior vice president, as deputy chairman.
A number of senior officers of the JV have also been named by the Sadara Board:
-- Ali Abuali, former president of Aramco Services Co., a US-based subsidiary in Houston, Texas, has been named ceo of Sadara;
-- Luciano Poli, Dow finance director for Europe, Middle East & Africa, has been named chief financial officer;
-- Lee Trusty, Dow joint manufacturing programme director for the Sadara project, has been named vice president for manufacturing and engineering.
-- Naser Al-Abdulkareem, commercial director for Vela International, has been named vice president, business & services;
-- Mohammed Al-Sellemi, director of human resources services department, Saudi Aramco, has been named vice president for industrial relations;
"Today's announcements mark another exciting and significant step forward for Sadara as it fulfills its commitment to building and operating a world scale, fully integrated chemicals complex in Jubail Industrial City," said Andrew Liveris, ceo of Dow. "I'm truly delighted to see the progress that we've made, and I'm most impressed with this line-up of outstanding leadership for Sadara. "
Once complete, the JV complex now being built in Jubail will be one of the world's largest integrated chemical facilities, which will include an extensive polyurethanes platform with production of MDI (methylene diphenyl diisocyanate), TDI (toluene diisocyanate), propylene oxide (PO) and polyols.
Saudi Aramco and Dow announced their respective board authorisations to form Sadara in July 2011 and signed a joint venture shareholders' agreement in October 2011.