6. Saudi Aramco-Total complex
Work on Saudi Aramco’s petrochemicals complex in Jubail with French oil giant, Total, will begin in Q3 2018.
A memorandum of understanding (MoU) was signed by both companies this April for the project, which is worth $5bn (SAR18.75bn). Front-end engineering and design (FEED) work is due to commence in Q3.
The complex will comprise a mixed-feed steam cracker that will feed other petrochemical and specialty chemical plants, thus representing an additional $4bn (SAR15bn) worth of investment by third-party investors.
In addition to the $9bn (SAR33.75bn) invested in total, up to 8,000 direct and indirect jobs will be created through the complex, which is expected to produce 2.45 million tonnes (2.7 million tons) of chemicals.
Aramco and Total's MoU was signed during a visit to Paris by Crown Prince HRH Prince Mohammed bin Salman bin Abdulaziz, Saudi's state news agency, SPA, reported.
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