Saudi Arabian state-oil company Aramco and French energy giant TotalEnergies will construct a new petrochemicals complex in Saudi Arabia with around $11 billion investment, companies announced in joint statement on Saturday.
The new “world-scale petrochemicals facility” will be integrated with the existing SATORP refinery jointly owned by Aramco and TotalEnergies in Jubail. The new complex aims to house one of the largest mixed-load steam crackers in the Gulf, with a capacity to produce 1,650 kilotons per annum of ethylene and other industrial gases.
The new facility is expected to attract more than $4 billion in additional investment in a variety of industrial sectors, including carbon fibers, lubes, drilling fluids, detergents, food additives, automotive parts and tires. It is also expected to create around 7,000 local direct and indirect jobs.
By Sibel Morrow