Saudi Aramco and US chemical giant Dow Chemical Co. today signed a Memorandum of Understanding (MoU) to establish, own and operate a chemicals and plastics production complex in Saudi Arabia, Aramco reported on its website.

The world-scale complex is to be called the Ras Tanura Integrated Project. It will be operationally integrated with Aramco’s Ras Tanura refinery complex and the Ju’aymah gas processing plant, both of which will supply feedstock to the joint venture and continue to owned and operated by Aramco.

When completed, the new complex will produce a diverse and extensive slate of plastics and chemicals to the Kingdom. It will be one of the largest grassroots plastics and chemicals production facilities in the world.

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