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Tuesday, 23 May 2017

Saudi Aramco plans up to $30 billion investment in Motiva by 2023 | Reuters

Saudi Aramco plans up to $30 billion investment in Motiva by 2023 | Reuters:

"Saudi Aramco [IPO-ARMO.SE] plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC [MOTIV.UL], the company said in an announcement on Saturday at a business summit in Saudi Arabia.

The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery and extend Motiva's operations in the petrochemical value chain.

A likely additional investment of $18 billion is expected into Motiva by 2023, it said."



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