Saudi Arabian authorities have prequalified eight local firms and six internationals to bid for a construction and ownership contract for a new refinery in Jizan.

In a statement to the press, the Saudi minister of petroleum and mineral resources Ali Al-Naimi said that a list of eight domestic companies had been approached to prepare a bid for the refinery, which has a completion date scheduled for 2015.

According MEED, Mr Al-Naimi also announced that there will be a 50 per cent reduction on the costs of providing training for Saudi workers to man the plant.

Other incentives for investors include the deduction of up to 15 per cent of the paid capital of the project and a government commitment to the construction of naval facilities to handle crude exports.

The refinery will play a key role in Saudi Arabia's Economic Cities programme, which involves the development of six civic hubs within the country.

Global Education and Training event for Oil and Gas: Refining and Petrochemicals