Page 53 - Baker Hughes REPORT - FEBRUARY 2024

2/13/24, 3:02 PM Dussur, Baker Hughes open chemicals facility in Jubail
New Sign In Subscribe ﻲﺑرﻋ

Saudi Arabia Companies List Search

Dussur, Baker Hughes open chemicals facility in Jubail

11/02/2024 Argaam Share

Most Read
Aramco to use capex allocated for boosting output for
expansions: CEO
Saudi Arabia seeks unique experiences to transform
cultural landscape: Al-Hogail
MSCI adds 4 Saudi firms in periodic review
Call Request
Anaam issues prospectus for SAR 236.25M rights issue
Shaker gets CMA nod on 15% capital increase via
bonus issue
Most Commented
Riyad Bank’s 2023 profit up 15% to SAR 8.04B; Q4 at
SAR 1.95B 1
Saudi Arabian Industrial Investments Co. (Dussur), in collaboration with Bakers Hughes,
launched today, Feb. 11, Saudi Petrolite Chemicals facility that will focus on
manufacturing chemicals in Jubail.

The facility aims to increase the Kingdom’s supply base of raw materials, as well as 
accelerate the development of the skills and capabilities of Saudi human cadres in
manufacturing, the Ministry of Energy said on its official X account. 

With faster delivery of fit-for-purpose chemical solutions, the facility is closer to
customers and suppliers, creating efficiencies across the business.

Raed Al-Rayes, CEO of Dussur, said Petrolite Chemicals' capital reaches SAR 150 million,
noting that 60% of the company's raw materials will be received from Saudi Arabian Oil
Co. (Saudi Aramco), Saudi Basic Industries Corp. (SABIC), and Sadara Chemical Co. to
convert them to more-valuable products.

The project is to provide over 100 types of specialized chemicals in the field of developing
oil and gas fields. In addition, it aims to achieve multiple development goals, in line with
Dussur’s strategy of using raw materials produced in Saudi Arabia.

Al-Rayes added that 80% of the company’s production will be directed to the local
market, while 20% will be exported to the MENA markets.

The company's clients are Saudi Aramco, SABIC, Saline Water Conversion Corporation,
and Saudi Electricity Co., the top executive said, pointing out that the project, upon
completion, will provide 250 direct job opportunities.

Dussur owns 49% of the joint venture, while Baker Hughes holds 51%. The factory
provides the first chemical reaction technology in Saudi Arabia, according to Al Eqtisadiah
newspaper.

Follow us on Follow Follow 2.1K Follow 98,927

Comments 0

Be the first to comment


https://www.argaam.com/en/article/articledetail/id/1704322 1/2