Following a series of delays, the Saudi Arabian Oil Ministry is expected to finally issue a tender for bids for a new oil refining plant in September, it has been reported.

Plans to open bidding for the refinery, to be located in the Jizan province, on the Red Sea coast in the south of the country, were due to be put forward in the middle of last year, though the process was delayed due to ongoing concerns regarding the financial feasibility of operating a new refinery in such a remote region.

Furthermore, the government has been wary of giving the proposals a green light given the spiralling costs currently being witnessed in the global refining sector.

However, the Saudi Petroleum and Mining Ministry has now confirmed that it will it will open the plant's construction and subsequent operation out to tender on September 6th as it looks to boost the country's production capacity as well as provide an economic boost for the impoverished southern province.

It is believed that eight Saudi countries in addition to 43 international firms have been identified as being qualified to apply for the work, the country's Al-Eqtisadiah has reported.