November 24, 2022 [Reuters] – Saudi Basic Industries Corporation (SABIC) (2010.SE) and Saudi Aramco (2222.SE) 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

Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data