CAIRO (Reuters) – Saudi Basic Industries Corporation (SABIC) and Saudi Aramco are planning to start a joint project to convert crude into petrochemicals in Ras Al Khair, the kingdom’s energy minister Prince Abdulaziz bin Salman said on Wednesday.
The project, the first of its kind in Saudi Arabia, will be completed in coming years and have a capacity of 400,000 barrels of crude per day, he added.
During an event to open a SABIC building in Al Jubail, the prince also said Saudi Arabia plans to open a new port in the industrial city of Ras Al Khair to export petrochemicals.
(Reporting by Yasmin Hussein, Mahmoud Mourad and Maha El Dahan)
