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Under the MoU, JXTG plans to invest in a 23,000 tons per year state-of-the-art ENB plant, that will use feedstock from the Amiral complex in Jubail, located on Saudi Arabia’s eastern coast. JXTG has launched the feasibility study of the ENB plant in April 2020.
New technology has potential to significantly increase efficiency and yield of chemicals production, converting more than 60% of a barrel of crude oil into chemicals.
The announcement by Saudi Aramco and SABIC, the two largest industrial entities in the Kingdom, reflects the high importance both companies place on making the Kingdom a key hub for global chemicals production.
