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TotalEnergies, Aramco To Invest $11 Bln To Construct Petrochemical Facility In Saudi Arabia

TotalEnergies SE (TTE), a French energy and petroleum company, and The Saudi Arabian Oil Company or Saudi Aramco have decided to invest towards constructing a large scale petrochemical facility- Amiral in Saudi Arabia.

The project involves an investment of around $11 billion, of which $4 billion will be funded through 62.5 percent equity by Aramco, and the remaining 37.5 percent by TotalEnergies.

In future, the complex will provide feedstock to other petrochemical and chemical plants, located in the Jubail industrial area, which will be built by downstream investors, entailing an estimated additional $4 billion of investments.

The complex will be owned, operated, and integrated with the existing SATORP refinery located in Jubail.

The petrochemical facility will enable SATORP to convert internally produced refinery off-gases and naphtha, as well as ethane and natural gasoline supplied by Aramco, into higher value chemicals.

Amiral will have a mixed feed cracker capable of producing 1.65 million tons per annum of ethylene.

The construction of the project is scheduled to begin during the first quarter of 2023, with commercial operation expected in 2027.

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