Alujain’s Natpet to build petrochemicals complex in Nigeria

28/03/2011 Argaam

Saudi National Petrochemical Industries Company (Natpet), a subsidiary of Aljuain Corporation, will build a petrochemicals complex in Nigeria with investments worth USD 3.5 billion, said Nigerian oil minister Deziani Allison-Madueke.

The minister told Reuters that Nigerian government signed a memo of understanding with the company on the planned project, without giving further details.

The complex is set to become the largest in sub-Saharan Africa, the minister added.

Reuters quoted Natpet’s Matouq Jannah as saying the company will spend an initial USD 3.5 billion on the project.

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