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Investment

Saudi Arabia attracts $2 billion in potential chemical investment

by Alexander H. Tullo
November 30, 2019 | APPEARED IN VOLUME 97, ISSUE 47

Several companies have signed tentative deals with the Saudi Arabian General Investment Authority that could lead to $2 billion in chemical investments. Mitsui & Co. is eyeing construction of an ammonia plant, and the water treatment–chemical maker SNF is considering a polyacrylamide plant. Shell plans a recycling facility that will upgrade spent refinery catalysts from around the region. And BASF signed a deal broadly aimed at “evaluating and assessing opportunities.” Saudi Arabia is trying to diversify its economy away from oil and gas exploration.

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