2012-05-27 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Saudi Aramco and Sumitomo Chemical Co are to proceed with a $7bn expansion of a petrochemical project in the kingdom, quelling doubts over the future of the delayed development, Reuters has reported. Sumitomo said it was pressing on with the Rabigh II project, due to start operations in early 2016, as it expects the market to pull out of a recent slump due to long-term economic growth in China and resilient demand in Europe. "The industry is now at a low point, but we are not worried about its long-term prospects," Osamu Ishitobi, vice president of Sumitomo Chemical, said.  

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