November 1, 2018 / 12:52 PM / in 16 days

Saudi Aramco, SABIC select Yanbu as site for new industrial complex

DUBAI, Nov 1 (Reuters) - Saudi Aramco IPO-ARMO.SE and Saudi Basic Industries Corp said on Thursday that Yanbu will be the site for an integrated industrial complex they plan to build to convert crude oil to chemicals.

The complex, located on the west coast of Saudi Arabia, is expected to process 400,000 barrels per day of crude oil, which will produce around 9 million tonnes of chemicals and base oils annually. It is expected to start operations in 2025, the two companies said in a statement. (Reporting By Tom Arnold; Editing by Susan Fenton)

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