Petrochemical complex gets $2B investment

Petrochemicals company INEOS recently announced that it will invest $2 billion in building three petrochemical plants in Saudi Arabia.

INEOS’ plants will be a 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.

“We are bringing advanced downstream technology which will add value and create further jobs in The Kingdom,” said Jim Ratcliffe, Chairman of INEOS, according to reports.