Nabaa, Mitsui moot $20bn Yanbu complex

Saudi Arabia's Nabaa Industrial Development and Investment Co and Japan's Mitsui & Co are considering building a $20bn petrochemical complex in the kingdom's Red Sea port of Yanbu, Reuters has reported, citing an industry source. The proposed project will use crude oil as feedstock and is expected to produce 45 petrochemical products, the source said. The two firms will take a final investment decision once feasibility studies are completed by June this year, he added. The project, if feasible, would be operational by 2019.