Motiva to Buy Flint Hills Petchem Plant

摘要

Saudi Arabia’s Motiva Enterprises is accelerating its move into the US petrochemical sector after agreeing to buy the Flint Hills Resources chemical plant adjacent to its oil refinery in Port Arthur, Texas. The buy acts as a prelude to a major petchem expansion in the industrial city 90 miles to the east of Houston. Motiva, the US refining arm of giant Saudi Aramco, will operate the Flint Hills plant while it builds three giant petrochemical units within its Port Arthur complex as part of an $18 billion expansion of operations along the US Gulf Coast, the company confirmed.