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.