INEOS to invest 2 billion in Aramco’s chemical plant

INEOS

Jim Ratcliffe’s INEOS said it will be investing about $2 billion in a petrochemical plant in Saudi Arabia.

The plant which will be operated by Saudi Aramco, the state oil company of Saudi Arabia, is part of Aramco’s $5 billion complex called Project Amiral.

According to data compiled by Reuters, the plant will have a capacity to supply about $4 billion specialty chemicals to the industry.

The latest investment is an addition to INEOS investment in Belgium, its biggest investment to date.

Earlier this year when the company announced an investment of $3.35 billion for an ethane gas cracker plant to supply chemicals needed for plastics and synthetic products and a propane dehydrogenation unit.

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