BASF,Mitsui,SNF,Shell sign MOUs for Saudi investments

摘要

The Saudi Arabian General Investment Authority(Sagia; Riyadh)on 21 November signed five memoranda of understanding(MOUs),with a combined value of 7.5 billion Saudi riyals($2 billion)with a number of major petrochemical companies,at a ceremony in Riyadh in the presence of Saudi deputy minister of industry Osama al-Zamil.Agreements signed include a Sagia and BASF deal to study the feasibility to build a plastic additives plant at Jubail; a deal with SNF Floerger to evaluate the establishment of a potyacrylamide plant; a deal with Mitsui & Co.for a 1-million metric tons/year ammonia plant at Jubail,in addition to building a petrochemical plant; and an agreement with Shell Overseas Services,a Shell subsidiary,to build a plant at Jubail to produce value-added catalysts.The fifth MOU is with Shell and Advanced Metallurgical Group(AMG)to build a residue-upgrading catalyst manufacturing facility.