Under the auspices of Minister of Energy Prince Abdulaziz bin Abdulaziz, Saudi Arabia Industrial Investment Company “Dussar” and Baker Hughes Energy Technology Company, opened a factory manufacturing chemicals in Jubail.
Strategic Industrial Development
The inauguration of the chemical manufacturing plant in Jubail by the Saudi Arabian Industrial Investments Company “Dussur” and Baker Hughes Energy Technology company represents a strategic step towards fulfilling the industrial and economic ambitions of Saudi Arabia.
Additionally, this facility, focusing on the production of essential industrial chemicals for the petroleum fields, is a testament to the Kingdom’s forward-thinking approach to diversifying its economy and enhancing its industrial sector.
Enhancing Local Supply and Skills
The PetroLite Saudi Chemicals facility‘s mission extends beyond manufacturing. It is strategically designed to bolster Saudi Arabia’s raw material supply chain for crucial products such as solvents and glycols. Moreover, it emphasizes the acceleration of skill development among Saudi nationals.
This initiative will contribute to the Kingdom’s goal of self-reliance and sustainable economic growth.
Economic Impact and Job Creation
Dr. Raed Al Rayes, CEO of Dussur, highlighted the economic and developmental significance of the PetroLite Saudi Chemicals facility. By aiming for a localization rate exceeding 70%, the project is set to offer numerous high-quality job opportunities to Saudi men and women.
Moreover, this initiative aligns with the Kingdom’s broader vision of economic diversification and empowerment of its citizens.
Commitment to Regional Development
Lorenzo Simonelli, Chairman and CEO of Baker Hughes, reflected on the partnership’s contribution to the regional economy. The project is a commitment to enhancing the local value chain and serving the chemical materials market more effectively in Saudi Arabia. This aligns with the Saudi Vision, aiming at economic and industrial expansion.
Infrastructure, Capabilities
Spanning an area of approximately 90,000 square meters, the PetroLite Saudi Chemicals facility is equipped with state of theart infrastructure.
Finally, this robust setup enables the facility to produce a wide range of petrochemical and industrial chemicals, marking a significant advancement in Saudi Arabia’s industrial capabilities and its journey towards economic diversification.
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