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Saudi petrochemical complex gets $2bn investment boost

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Saudi Aramco and Total’s petrochemical complex located in Saudi Arabia is set to receive a $2billion dollar boost in investment by INEOS.

The British company, INEOS, is investing to build three plants in Saudi Arabia. The plants will be part of Saudi Aramco and Total’s planned construction of a $5 billion petrochemical complex called Project Amiral, which would supply more than $4 billion of downstream derivatives and specialty chemicals, the company said in a statement.

Jim Ratcliffe, the company’s chairman, said; “The timing is right for us to enter this significant agreement in Saudi Arabia with Saudi Aramco and Total.

“We are bringing advanced downstream technology which will add value and create further jobs in the Kingdom”.

Source Argaam
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