Saudi Arabia plans to build a refining and chemical plant in South Africa

Source: China National Chemical News January 24, 2019

According to Saudi Energy Minister Khalid Falih on January 18, 2019, Saudi Arabia plans to establish an oil refinery and petrochemical complex in South Africa as part of the country's $10 billion investment. Falih said that Saudi Arabia's oil will be used in the planned refinery and its construction will be handled by Saudi Aramco.

Reuters quoted the Saudi minister as he met with South Africa’s energy minister Jeff Radebe: \"Saudi Aramco teams have exchanged opinions and received support from the South African Ministry of Energy. The exact location of the refinery and petrochemical plant will be in the next few weeks determine.\"

Radebe said on January 18: \"South Africa and the Kingdom of Saudi Arabia signed a statement of intent aimed at comprehensive cooperation in the oil and gas field.\" Falih said that Saudi Arabia is also interested in South Africa's major oil storage facilities. In addition, Saudi utility developer Acwa Power is considering investing in renewable energy projects in South Africa.