Saudi “SABIC” pumps a huge amount into the “Teaside” station in...

In Britain, it was announced that the Saudi Basic Industries Corporation (SABIC) would invest nearly £1 billion in SABIC’s Teesside facility in north-east England to decarbonize.

British Prime Minister Boris Johnson posted a tweet on Twitter on Wednesday evening, saying: “Great to see an investment of nearly $1 billion in SABIC’s Teesside facility, creating 1,000 jobs.”

“A vote of confidence in the UK chemicals and process sector, which is at the fore in innovation in green clean technology,” he added.

SABIC confirmed the investment in a statement published by “Reuters”, and said that its total investment in the United Kingdom is about one billion pounds.

Earlier on Wednesday, Investment Minister Khalid Al-Falih said that Saudi Arabia and Britain had signed a memorandum of understanding to promote bilateral investments.

Source: Reuters

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