Reuters logo
Saudi Aramco plans up to $30 bln investment in Motiva by 2023
May 23, 2017 / 9:37 PM / 7 months ago

Saudi Aramco plans up to $30 bln investment in Motiva by 2023

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below