JV to develop plant at Jubail Industrial City
Saudi Arabia's Industrialisation & Energy Services Company (TAQA) and Halliburton Multi-Chem are to build a plant to serve local and international oil and gas, water, and power sectors.
Saudi Arabia's Industrialisation & Energy Services Company (TAQA) and Halliburton Multi-Chem have entered into a joint venture to establish an industrial complex in Jubail Industrial City.
The plant will provide specialty chemicals to serve local and international oil and gas, water, and power sectors.
Project construction is expected to begin in 2015 with production starting in the fourth quarter of 2016.
Mohammed Y. Rafie, chairman of TAQA, said: "By signing this agreement with Halliburton, we are increasing TAQA‘s commitment and presence in the oil and gas sector in the Kingdom by adding local manufacturing capabilities and transfer technology in the oil and gas sector in Saudi Arabia."
Keith Barnard, vice president of Halliburton Multi-Chem, added: "This agreement positions us to have a world-class cost position in the heart of the $0.5 billion-plus specialty chemical market of the Middle East. It also demonstrates our commitment to serve Saudi Aramco and other valuable customers in the region. This project should provide a safe supply of raw materials and increase the sales of chemical products both locally and internationally."