France’s Total and Saudi Aramco inked an accord for the front-end engineering and design of a new petrochemical plant in an eastern province of Saudi Arabia. The agreement represents a $5 billion investment, and it is scheduled to start operating in 2024. Amin Nasser, president and CEO of Saudi Aramco, said during the signing event in Dhahran on Monday that the new plant “will deliver on multiple levels, from high-value fuels and petrochemical products never manufactured in the Kingdom before, destined for consumers on three continents.” The petrochemical plant will have capacity of “1.5 million tons per year of ethylene and related high-added-value petrochemical,” the joint statement said. […]