RCJY inks investment deals to establish, operate 2 plants worth SAR 7.5 bln

The Royal Commission for Jubail and Yanbu (RCJY), represented by Jubail and Yanbu Industrial Cities Services Co. (JABEEN), signed two conditional investment agreements with INEOS Europe AG, worth SAR 7.5 billion.

According to the Saudi Press Agency (SPA), the first agreement included an oligomer project, through the establishment and operating a factory producing alpha-olefin, polyalphaolefin and hydrocarbon derivatives, at a value of SAR 3.75 billion. Spanning a total area of 180,000 square meters (sqm), the plant is located in the PlasChem area in Jubail Industrial City.

The second agreement included a nitrile project, through the establishment and operating a factory prod acrylonitrile, acetonitrile, hydrogen cyanide (HCN) and sodium cyanide (NaCN), at a value of SAR 3.75 billion, covering 334,200 sqm in the PlasChem area.