Jubail and Yanbu Petrochem hubs seek investments from national and international investors

18-Jun-13

The Petrochemical hubs of Jubail and Yanbu in the United Arab Emirates are seeking investment of over 300 billion riyal (US$ 80 bln) from national and international investors. The upcoming projects are open for foreign investments to the tune of US$50 bln in Jubail Industrial City and US$25 bln in Yanbu Industrial City, as reported by Zawya. The Jubail Industrial City houses the world’s fourth largest petrochemical company. A refinery is being built in the region with capacity to process over 1 mln tons of petrochemicals, including paraxylene, polymer-grade propylene and benzene, annually. The UAE has an overall petrochemical production capacity of 6.1 mln tons, which is 4.8% of the Middle East region’s total capacity.