RIYADH: One of the world's largest oil field service companies, US Halliburton, is building its first plant in the Middle East in Saudi Arabia, with investment exceeding $100 million, company sources told Asharq.
Halliburton is close to completing the construction of the first reactor plant for the manufacture of chemicals in King Salman Energy City "Spark" in Jubail, and production will begin in the first quarter of 2022, through the manufacture of specialized chemicals locally, the sources said.
The plant, according to company officials, has the capacity to manufacture broad slabs of chemicals for engineering processing programs for stimulation, production, transportation, storage and exploration.
Three of Halliburton's senior executives on Monday held a workshop in the Eastern Province to introduce Saudi investors to the factory's activity, investment opportunities and partnerships that can be implemented.
They emphasized that they will seek to benefit from Saudi human cadres to run the project's work, as they are targeting a 70 percent localization rate.
