Total, Aramco To Build $9B Petrochemical Complex

[CMOP + 227]

France’s oil major Total and Saudi Aramco signed on Tuesday a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia, which will see total investments of US$9 billion by the two companies and third-party investors.

he complex will be integrated downstream of the 440,000-bpd SATORP refinery, a joint venture between Saudi Aramco and Total, in order to take advantage of operational synergies.The parties will invest around US$5 billion in this project, while another US$4 billion investment by third-party investors will come from other petrochemical and specialty chemical plants that the cracker will feed.  

Fun Fact: Aramco signed today a total of US$12 billion worth of agreements with French companies. The petrochemical project with Total is the major part of those agreements.  

 

[Moise + 3]

I Wonder if they will also invest in the infrasture to build a port.