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September 5th, 2011
Saudi Arabia investing $ 20 Billion in Petrochemicals Industry

Saudi Arabia’s petrochemicals industry is about to get a massive boost, with a new $20bn plant in the works and extensive state spending on infrastructure set to further improve the nation’s logistics backbone. Before the full benefits are realised, however, the sector may have to endure a down period as the recovery of the global economy continues to falter, Global Arab Network reports according to Oxford Business Group. On July 25, Saudi Aramco announced it had formed a joint venture with the Dow Chemical Company to build and operate what will be one of the world’s largest petrochemicals production facilities. Read More