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
PepsiCo Europe and crop nutrition company Yara have announced a long-term partnership aimed at providing European farmers with low-carbon crop nutrition solutions to help decarbonise the food value chain. Under the agreement, Yara will supply PepsiCo with up to 165,000 tons of fertiliser per year by 2030, covering around 25% of the food and beverage giant’s crop fertiliser needs across Europe.
BASF has signed an agreement to sell its flocculants business for mining applications to Solenis, a specialty chemicals manufacturer. The divestment of the flocculants business to Solenis is part of BASF’s ongoing portfolio optimisation with the aim of focusing on strategic core areas.
ADAMA Ltd. a leading crop protection company, announced that its board of directors has appointed Gaël Hili as its President and Chief Executive Officer, effective October 1, 2024. Hili will join the Syngenta Group Leadership Team and will be based in Tel Aviv.
