UK group Ineos to build $5bln chemical plants in Saudi Arabia

These world-scale plants, to come up in the Jubail 2 complex in Saudi Arabia, will produce the key building blocks for carbon fibre, engineering polymers and synthetic lubricants Ineos, a leading manufacturer of petrochemicals, specialty chemicals and oil products, has signed agreements with state oil giant Saudi Aramco and French energy major Total to build three new plants in Jubail region of Saudi Arabia. These world-scale plants, to come up in the Jubail 2 complex in Saudi Arabia, will produce the key building blocks for carbon fibre, engineering polymers and synthetic lubricants that are pivotal to economic growth in the region, said a statement from Ineos. As per the MoU, Saudi Aramco and Total will construct a $5-billion petrochemical complex (Project Amiral) which will supply more than $4 billion of downstream derivatives and speciality chemicals units; the three Ineos plants will be part of them.