DUBAI: Saudi Aramco and France's Total will double the capital of its oil refinery joint venture at Jubail to 7.12 billion riyals ($1.90 billion) as part of the planned financing for the project, it said on Tuesday.
The capital of Saudi Aramco Total Refinery and Petrochemicals Company (SATORP) will be increased from 3.56 billion riyals through a cash injection by the shareholders in the first-quarter of 2013, according to a statement on the Saudi bourse website.
State-owned Aramco holds a 62.5 percent stake in the project, with Total holding the remaining 37.5 percent stake. The capital increase will be on a pro-rata basis, the statement said. (Reuters)
