INEOS Announces Plan to Invest $2 Billion in Saudi Petrochemical Project

| July 1, 2019

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After the murder case of journalist Jamal Khashoggi, there was worldwide outrage about the Saudi leadership and many investors made noises about not doing business in the country ever again. However, the tide has definitely turned over the course of 2019, and big-ticket investment is continuing to flow into Saudi Arabia, despite widespread reservations from certain quarters. The Saudi state underwent a massive development drive that has opened up a world of opportunities for investors from all over the world, and some of the biggest names in the world of business are flocking to the Gulf state. In a new development, it has been announced on Monday that the British chemical company INEOS is going to invest $2 billion in a massive petrochemical complex in Saudi Arabia. The complex is being currently developed by French oil company Total and Saudi Arabia’s state-owned oil company Saudi Aramco. The cost of building the petrochemical complex, known as Project Amiral, is going to be around $5 billion according to an announcement from INEOS. The company went on to state that once the project is completed, then the site could supply special chemicals and derivatives worth $4 billion. Jim Ratclieffe, the billionaire owner of the chemical company, stated.

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Ege Kimya San. ve Tic. A.S.

Growing economic trends continue to attract an increasing number of investments by multi-national companies within Turkey and neighbouring countries on an annual basis. Ege Kimya Sanayi ve Ticaret A.Ş. (Ege Kimya), is considered to be one of the most innovate and well-established companies in the chemical manufacturing sector in Turkey and remains as a trusted supplier to its customers and business partners in the field.

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