Sunday, 10 December 2017

Saudi Aramco plans for a life after oil

Saudi Aramco plans for a life after oil:

"Rising from the desert like a metallic oasis, the Sadara chemicals plant in Saudi Arabia’s eastern province is a labyrinth of pipes, tanks and furnaces covering an area three times the size of Monaco and made with enough steel to build the Golden Gate bridge twice.

The $20bn project, completed in September, is the largest chemicals facility constructed in a single phase anywhere in the world. It stands as a powerful statement of intent by Saudi Aramco, the state oil company, to adapt to a changing energy environment and as a symbol of what a reformed Saudi economy could look like.

Increasing investment in chemicals aligns the company with the ambitious economic overhaul being pushed by Crown Prince Mohammed bin Salman to wean the kingdom off what he has called its “dangerous addiction to oil”."



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