Aramco to in­vest US$30b in US unit

New Straits Times - - Business -

HOUS­TON: Saudi Ara­bian Oil Co (Aramco) plans an in­vest­ment of up to US$30 bil­lion (RM129.9 bil­lion) in its United States unit Mo­tiva En­ter­prises LLC, it says at a busi­ness sum­mit in Saudi Ara­bia. Aramco said US$12 bil­lion would be the ini­tial in­vest­ment to ex­pand re­fin­ing ca­pac­ity at Mo­tiva’s Port Arthur, Texas, re­fin­ery and ex­tend its op­er­a­tions in the petro­chem­i­cal value chain. A likely ex­tra in­vest­ment of US$18 bil­lion is ex­pected in Mo­tiva by 2023. Agen­cies

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