Aramco, TotalEnergies sign $11 billion contract to build petrochemicals complex in Saudi Arabia
The expansion is expected to attract more than $4 billion in additional investment
Image Credit: Gulf News archive
Riyadh: Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday.
“Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia,” the statement read.