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¶¶Òõ¶ÌÊÓƵ’s Advanced Petrochemical Company has been given the nod for one of its units to build a new plant in Jubail.
Advanced Global Investment Company (AGIC) received approval from the Ministry of Energy to allocate the feedstock needed for the plant in Jubail Industrial City, the company said in a Tadawul filing on Wednesday.
It will have the capacity to produce some 1.15 million tons of ethylene, 850,000 tons of propylene and 400,000 tons of aromatics and fuels.
It is expected to be operational by the fourth quarter of 2025.
¶¶Òõ¶ÌÊÓƵ, already one of the world's biggest suppliers of petrochemicals, has stepped up investments in the sector as it adds investments in higher value industries and reduces its overall reliance on crude oil sales.