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Saudi Arabia announce plans to build oil refinery, petrochemicals plant in South Africa

By Anine Kilian, Contributing Editor
Saudi Arabia Energy Minister Khalid Al-Falih on Friday announced plans to build an oil refinery and a petrochemicals plant in South Africa.
The construction is part of a $10 billion Saudi Arabian investment drive into South Africa.
In comments following a bilateral meeting with South Africa’s energy minister Jeff Radebe in Pretoria, Al-Falih said that Saudi oil would be used in the refinery, whose construction would be led by the state energy company, Saudi Aramco.
Minster Al-Falih added that Saudi Arabia was also interested in using South Africa’s oil storage facilities in Saldhanna.
South African President Cyril Ramaphosa is trying to raise $100 billion in new investments into the country.

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Energy Capital & Power

Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.

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