Dhahran/Paris, December 15, 2022 – The Saudi Arabian Oil Company (“Aramco”) and TotalEnergies have taken the final investment decision for the construction of a world scale petrochemical facility in Saudi Arabia.
Saudi oil giant Aramco has joined forces with TotalEnergies to build a world scale petrochemical facility in Jubail at an investment of $11 billion. The complex will boast a mixed feed cracker capable of producing 1.65 million T per annum of ethylene.
The project involves investment of about $11 billion, of which $4 billion will be funded through equity by Aramco (62.5 percent) and TotalEnergies (37.5 percent)