Saudi Arabia’s state-owned oil company announced a major investment in South Korea today during Crown Prince Mohammed bin Salman’s visit.
Aramco will invest $7 billion in a petrochemical “steam cracker” in the east Asian country. The investment, which is named the Shaheen project, is Aramco’s largest-ever in South Korea. The project will be located at an existing site belonging to the South Korean energy company S-Oil, according to a press release.