Saudi Aramco, the world's largest oil company, plans to invest about $200 billion in the petrochemical sector within the next 10 years, the firm's CEO, Amin Nasser, said Friday.
MOSCOW (Pakistan Point News / Sputnik - 09th November, 2018) Saudi Aramco, the world's largest oil company, plans to invest about $200 billion in the petrochemical sector within the next 10 years, the firm's CEO, Amin Nasser, said Friday."Our actions will include purchases, which we are planning with SABIC [Saudi petrochemical manufacturing company]. In this segment [of trade], we are talking about investments of $200 billion for the next 10 years. But this will only happen if we develop the industry together," Nasser said at the meeting with Victor Sadovnichy, the head of Moscow State University.
Nasser added that Saudi Aramco was looking for opportunities to use their resources not only in transport and energy but also in other sectors, including petrochemicals.
Earlier in the day, Moscow State University and Saudi Aramco signed an agreement on cooperation in the field of research and on the establishment of a joint research center at the university.
