French firms eyeing investment in Saudi petchem sector
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French firms eyeing investment in Saudi petchem sector

French firms eyeing investment in Saudi petchem sector

A group of French companies, led by Total Oil, has announced plans to invest in a series of new joint petrochemical and industrial projects in Jubail Industrial City, Arab News has reported. Total and Saudi Aramco have already established a joint venture, Saudi Aramco Total Refining and Petrochemical Co (SATORP), in Jubail Industrial City II, which is in advanced stages of constructing one of the most complex refineries in the world. The JV is 62.5% owned by Saudi Aramco, while the remaining 37.5% is owned by Total.

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