Energy technology company Baker Hughes announced on Monday the inauguration of its joint venture (JV) oilfield and industrial chemicals manufacturing plant in Saudi Arabia.

Saudi Petrolite Chemicals is a JV with Dussur, owned by the Saudi Arabian Public Investment Fund (PIF), Saudi Aramco and SABIC (Saudi Basic Industries Corporation).

The new facility, spread over an area of 90,000 square metres, will increase Saudi Arabia’s supply base targets for raw materials like solvents and glycols, as well as accelerate capacity building with a local workforce of more than 70 percent, Baker Hughes said in a press statement.

It will cater to oilfield, power generation and industrial chemicals industries.

Lorenzo Simonelli, chairman and CEO, Baker Hughes said the project represents the JV’s efforts to drive in-country value to better serve the chemicals market in the Kingdom and across the region.

Raed Al-Rayes, CEO of Dussur, said the project comes within the company’s efforts to cooperate with its partners for strategic localisation to maximise the developmental and economic impact.

The new facility includes on-site quality control lab, ethylene oxide, propylene oxide pipeline feedstock, and 14 storage tanks.

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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