Saudi Arabia is considering initial steps to build a multi-billion dollar petrochemical plant in Texas

Saudi Arabia is considering initial steps to build a multi-billion dollar petrochemical plant in Texas


 
07-04-2018 12:11 PM

Saudi Aramco is expected to unveil initial steps on Saturday to set up a multi-billion dollar petrochemical plant in Texas, informed sources said.

Aramco is considering expanding its US unit Motiva Enterprises at the Motiva refinery in Port Arthur, Texas, and is already the largest refinery in terms of its production capacity in the United States.

The sources said that Motiva wants to move first to the petrochemicals through the use of abundant natural gas from American rock fields to make precursors for plastics.

Texas Governor Greg Abbott is expected to attend an event on Saturday in Houston, where plans will be discussed by Saudi Crown Prince Mohammed bin Salman, Saudi Energy Minister Khalid al-Faleh and Aramco CEO Amin al-Nasser, an Aramco representative said.

"Motiva is actively exploring a number of opportunities as part of its growth strategy," the company said on Friday.

These opportunities include sites we are currently working on as well as new sites. "

Aramco said last year it planned to invest $ 18 billion in the Motiva refinery in Port Arthur, Texas.

Refinery refining capacity is 603,000 bpd

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