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© Reuters. FILE PHOTO: A sign with the logo of French oil and gas company TotalEnergies is pictured at a petrol station in Bouguenais near Nantes, France, November 14, 2022. REUTERS/Stephane Mahe/File Photo
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© Reuters. FILE PHOTO: A sign with the logo of French oil and gas company TotalEnergies is pictured at a petrol station in Bouguenais near Nantes, France, November 14, 2022. REUTERS/Stephane Mahe/File Photo
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PARIS (Reuters) – French oil giant TotalEnergies said on Thursday it joined forces with Saudi Arabian Oil Company (Aramco} to build a new petrochemical complex in Saudi Arabia.
The project involves an investment of around $11 billion, of which $4 billion will be funded through equity by Aramco (TADAWUL:) (62.5%) and TotalEnergies (37.5%), the statement said.
Construction is scheduled to begin during the first quarter of 2023 with commercial operation targeted to start in 2027.
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