Total, Saudi Aramco Sign MoU To Build Petrochemical Complex In Jubail

(RTTNews) - Total (TTA.L, TTFNF.PK, TOT) announced the company and Saudi Aramco have signed a memorandum of understanding to build a petrochemical complex in Jubail, Saudi Arabia. The complex will be integrated downstream of the SATORP refinery, a joint venture between Saudi Aramco (62.5%) and Total (37.5%) in Jubail. The project will produce more than 2.7 million metric tons of high value chemicals.

Located next to the SATORP refinery in the same industrial area, the complex will comprise a world-size mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value petrochemical units.

The project will represent an investment of around $5 billion. The two partners are planning to start the front-end engineering and design in the third quarter of 2018.