Page 47 - Baker Hughes REPORT - FEBRUARY 2024

2/13/24, 3:02 PM Energy Min. Sponsors Opening of Dussar, Baker Hughes | Leaders
Enhancing Local Supply and Skills

The PetroLite Saudi Chemicals facility‘s mission extends beyond

manufacturing. It is strategically designed to bolster Saudi Arabia’s raw
material supply chain for crucial products such as solvents and glycols.

Moreover, it emphasizes the acceleration of skill development among Saudi
nationals.

This initiative will contribute to the Kingdom’s goal of self-reliance and

sustainable economic growth.

Economic Impact and Job Creation

Dr. Raed Al Rayes, CEO of Dussur, highlighted the economic and

developmental significance of the PetroLite Saudi Chemicals facility. By
aiming for a localization rate exceeding 70%, the project is set to offer
numerous high-quality job opportunities to Saudi men and women.

Moreover, this initiative aligns with the Kingdom’s broader vision of

economic diversification and empowerment of its citizens.

Commitment to Regional

Development

Lorenzo Simonelli, Chairman and CEO of Baker Hughes, reflected on the
partnership’s contribution to the regional economy. The project is a

commitment to enhancing the local value chain and serving the chemical
materials market more effectively in Saudi Arabia. This aligns with the Saudi
Vision, aiming at economic and industrial expansion.

Infrastructure, Capabilities

Spanning an area of approximately 90,000 square meters, the PetroLite Saudi
Chemicals facility is equipped with state of theart infrastructure.

Finally, this robust setup enables the facility to produce a wide range of

petrochemical and industrial chemicals, marking a significant advancement
in Saudi Arabia’s industrial capabilities and its journey towards economic

diversification.

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