Saudi Aramco plans petrochemical expansion in Indonesia, Vietnam and other countries

13-Oct-11

Saudi Aramco has announced plans to expand its petrochemical operations to Indonesia, Vietnam and other countries, for which it is conducting intensive studies. The Saudi major also seeks new investment opportunities in various parts of China. In 2010, the company announced plans to invest around US$120 bln over the next 5-6 years in developing projects in the oil and petrochemical sectors. Half of this is to be invested in the oil sector, while the remaining investment would be for the development of petrochemical projects and foreign investments.