ABU DHABI (Reuters) - Saudi Arabia plans to develop a $2 billion solar and carbon black integrated complex in partnership with China’s Longi and South Korea’s OCI, a Saudi official said. A feasibility study for the solar and carbon project will be completed by mid-2019, said Tariq Baksh, vice president, chemicals and renewables program, at Saudi Arabia’s National Industrial Clusters Program. He was speaking to reporters on the sidelines of a conference in Abu Dhabi. Carbon black is produced from heavy petroleum products. Reporting by Stanley Carvalho; writing by Davide Barbuscia; editing by Jason Neely
Saudi Arabia is set to invest $2bn in a solar and carbon black integrated complex, according to an official from the country's National Industrial Clusters Program. The project will be built on land that was previously used for oil exploration but has been converted into green space. Baksh said that a feasibility study for the proposal is expected to be completed by mid-2019.