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HOUSTON, May 23 (Reuters) - Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC, the company said in an announcement on Saturday at a business summit in Saudi Arabia.
The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery and extend Motiva's operations in the petrochemical value chain.
A likely additional investment of $18 billion is expected into Motiva by 2023, it said. (Reporting by Erwin Seba)