Chemicals group Ineos to invest £1.6bn in factories in Saudi Arabia as it claims the country is undergoing ‘a process of change’
Ineos is investing £1.6 billion in Saudi Arabia
Ineos is investing £1.6 billion in Saudi Arabia.
The chemicals group will build three manufacturing plants on part of a major petrochemical site which sees it team up with state-controlled Saudi Aramco and French oil giant Total.
Each site will produce carbon fibre, engineering polymers and synthetic lubricants used in the car, aerospace and manufacturing sectors.
Critics are expected to raise Saudi Arabia’s poor human rights record, but Tom Crotty, a director at Ineos, claimed there is ‘a process of change’ going on in Saudi Arabia and that ‘now is a good time’ to get involved.