Saudi Aramco, SABIC to partner on new petrochemical plant

Saudi Aramco, SABIC to partner on new petrochemical plant
Saudi Aramco, SABIC to partner on new petrochemical plant
Saudi Aramco and Saudi Basic Industries Corporation (SABIC) recently announced a partnership to expedite the construction of a new petrochemical plant.
 
The plant will take crude oil and turn it directly into petrochemicals, allowing Saudi Arabia to make major cuts to intermediate costs of plastic production.

Slated for a 2017 finish, the facility is part of a larger plan by the Saudi government to diversify its economy away from the sale of crude oil.

Amin Nasser, CEO of Saudi Aramco, said that the country hopes to substantially increase production of petrochemicals.

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Saudi Aramco

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