PIF-Backed Dussur, Baker Hughes Open Jubail Chemicals Plant
PIF-Backed Dussur, Baker Hughes Open Jubail Chemicals Plant

PIF-Backed Dussur, Baker Hughes Open Jubail Chemicals Plant

  • 13-Feb-2024 11:22 AM
  • Journalist: Shiba Teramoto

The collaboration between the Saudi Arabian Industrial Investments Co., popularly known as Dussur, and Baker Hughes has heralded the inauguration of an oilfield services and industrial chemicals factory in Jubail. This monumental event, occurring on a Sunday, marks a significant stride towards the enrichment of Saudi Arabia's supply base for crucial raw materials such as solvents and glycols. Beyond mere material enhancements, the establishment of the Saudi Petrolite Chemicals factory holds the promise of fostering the growth of local human capital, thereby fueling the Kingdom's journey towards increased localization rates and expedited delivery of chemical solutions.

Spanning an impressive area of approximately 90,000 square meters, the newly established facility boasts state-of-the-art infrastructure including an on-site quality control laboratory, ethylene oxide and propylene oxide pipeline feeding materials, and a total of 14 storage tanks. Such robust infrastructure signifies a commitment to operational excellence and underscores the facility's readiness to meet the demanding needs of the market.

The genesis of this groundbreaking joint venture between Dussur, bolstered by the support of the Public Investment Fund, and the renowned Texas-based oilfield services provider Baker Hughes was announced a year prior to the inauguration. Baker Hughes holds a majority stake of 51 percent in this ambitious project, signifying its deep commitment to contributing to the Kingdom's industrial growth and economic prosperity.

The establishment of the Saudi Petrolite Chemicals facility represents not only a significant milestone in the journey towards industrial excellence but also heralds a new era of opportunity for the nation's workforce. With a targeted nationalization rate of over 70 percent, this project promises to create a myriad of distinctive career opportunities for the sons and daughters of the nation, thereby enriching the fabric of Saudi society while driving economic empowerment.

This initiative stands as a testament to the unwavering dedication of both Baker Hughes and Dussur to enhancing local value and serving the chemicals market not only within the Kingdom but also across the wider region. Such endeavors are intricately aligned with the overarching vision outlined in Saudi Arabia's Vision 2030, which aims to diversify the economy and establish the Kingdom as a global industrial powerhouse.

The inauguration of the Saudi Petrolite Chemicals factory in Jubail represents a monumental leap forward in Saudi Arabia's industrial journey. Through strategic partnerships, unwavering commitment to excellence, and a steadfast dedication to nurturing local talent, this project stands poised to make a lasting impact on the nation's economic landscape and propel it towards a future of sustainable growth and prosperity.

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