Aramco, TotalEnergies to Build $11 Bln Saudi Petrochemicals Plant

The project involves investment of about $11 billion. Reuters

Saudi Aramco and TotalEnergies will join forces to build a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Thursday.

The project involves investment of about $11 billion, of which $4 billion will be funded through equity by Aramco (62.5%) and TotalEnergies (37.5%), the statement said.