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Saudi RCJY inks SAR 7.5bn contracts with INEOS Europe

Saudi RCJY inks SAR 7.5bn contracts with INEOS Europe
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Riyadh – Mubasher: The Saudi Royal Commission for Jubail and Yanbu (RCJY), represented by Jubail and Yanbu Industrial Cities Services Company (JABEEN), signed two contracts with INEOS Europe at an aggregated value of SAR 7.50 billion.

The two parties will collaborate to handle the oligomer and the nitrile projects at the PlusChem zone in Jubail Industrial City at a value of SAR 3.75 billion each, SPA news agency reported.

Upon the first deal, a factory will be developed to produce linear alpha olefins (LAO), polyalphaolefins (PAOs), and hydrocarbon derivatives. The joint project will span 180,019 square metres.

Furthermore, another chemical facility will be established on an area of 334,224 square metres to produce acrylonitrile, acetonitrile, hydrogen cyanide, and sodium cyanide.

Ahmad Al Bliwi, a member at JABEEN, noted that these investments align with the Kingdom’s strategy to attract transformative industries with added value and boost their local production.