Saudi Arabian General Investment Authority today signed five memoranda of understanding (MOUs), with a combined value of 7.5 billion Saudi riyals ($2 billion), with a number of major petrochemical companies at a ceremony in Riyadh in the presence of Saudi Deputy Minister of Industry Osama al-Zamil.
Agreements signed include a SAGIA and BASF deal to study the feasibility to build a petrochemicals plant at Jubail Industrial City; a deal with SNF to evaluate the establishment of a polyacrylamide plant; a deal with Mitsui & Co., for a 1-million metric tons/year ammonia plant at Jubail, in addition to building a new petrochemical plant and an agreement with Shell Overseas Services to build a new plant at Jubail Industrial City to produce value-added catalysts. The fifth MOU is with Shell and Advanced Metallurgical Group to build a residue upgrading catalyst manufacturing facility (see separate story).
Ibrahim al-Omar, governor of SAGIA, said, “Our country is undergoing a significant economic transformation. The petrochemicals sector provides exciting opportunities for international investors as we look to draw on the expertise and experience of the private sector in transforming the industry.”
By Natasha Alperowicz
Source: Chemical Week
Effective from 1 January 2022, Armand Ajdari will be joining Arkema as the Group’s Chief Technology Officer. He will report to Thierry Le Hénaff, Chairman and CEO, and will be a member of the Group management committee.
Ineos Styrolution confirmed its decision to invest into a pilot plant for advanced recycling of polystyrene. The site will be set up in collaboration with Recycling Technologies in Swindon, U.K. It is expected to be operational in the second half of 2022.
The Air Liquide’s Board reviewed the Group’s leadership succession plan and approved the principle of a new form of governance. In this context, when the Board meets at the close of the 2022 Shareholders General Meeting, it will be asked to renew Benoît Potier’s term of office as Chairman of the Board of Directors and to appoint François Jackow to succeed him as Chief Executive Officer with effect from June 1, 2022.
