Saudi Aramco and Total signed MoU for a huge petrochemical plant in Saudi Arabia

According to a joint press statement by the two companies, during the official visit to Paris by Crown Prince of Saudi Arabia, HRH Mohammed bin Salman, Saudi Aramco and Total signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia.
The complex will be integrated downstream of the SATORP refinery, a joint venture between Saudi Aramco (62,5%) and Total (37,5%) in Jubail, in a move designed to fully exploit operational synergies. This world-class refinery, whose capacity increased from 400,000-barrel-per-day at its start-up in 2014 to 440,000-barrel-per-day today, is recognized as being one of the most efficient in the world.
Located next to the SATORP refinery in the same industrial area, the complex will comprise a world-size mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value petrochemical units. The project will represent an investment of around $5 billion. The two partners are planning to start the front-end engineering and design in the third quarter of 2018.
The cracker will feed other petrochemical and specialty chemical plants representing an overall amount of $4 billion investment by third party investors, for a total of $9 billion as investments.