Motiva Enterprises, the US refining arm of Saudi Aramco, has signed an agreement to buy Flint Hills Resources chemical plant, adjacent to its Port Arthur, Texas, oil refinery.

 

The potential acquisition is targeted to close in the fourth quarter of 2019, subject to satisfaction of closing conditions, Motiva said in a statement on Monday.

 

Terms of the transaction will not be disclosed by both the parties.

 

The deal would extend Saudi Aramco's push to grow its petrochemical operations in Texas and elsewhere. 

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