The hottest Saudi Arabia will build a $20billion l
2022-08-12- Detail
On the evening of July 25, Beijing time, Dow Chemical Company (Dow) and Saudi Aramco (Saudi Aramco) announced on Monday that they had agreed to establish a joint venture to invest $20billion to build a large-scale chemical complex in Jubail industrial city, Saudi Arabia
this joint venture named sadara Chemical Co will include 26 production units to produce chemicals and plastics used in the energy, transportation, infrastructure and fire products industries
the construction of the project will begin immediately. Some factories are expected to be put into operation in the second half of 2015. By 2016, all factories will be completed and put into operation. In the few years after putting into operation, these factories are expected to generate about $10billion in annual revenue and create thousands of jobs
the total investment of the joint venture project is about 20billion US dollars, including financing from export credit institutions and financial institutions. Dow and Saudi Aramco will hold the same number of shares in the project
7. Dow and Saudi Aramco said that it would be one of the largest comprehensive chemical enterprises in the world, which could carry out experiments and provide test data according to GB with the joint efforts of all parties in the field of aviation materials and international standards such as ISO, JIS, ASTM, DIN, etc
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