Saudi Basic Industries Corporation is planning to build a crude oil-to-petrochemicals conversion facility to capitalize on growing demand.

The crude oil-to-chemicals complex at Ras Al Khair in eastern Saudi Arabia is expected to convert 400,000 barrels a day of oil into chemicals, the company said in a statement Thursday on the Tadawul exchange, where its shares are traded .

Sabic is the largest petrochemical producer in the Middle East.

The latest project, part of its strategic…

Source link