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Britain's Ineos to invest $2 billion in Saudi plants

 By The Associated Press  June 3, 2019 at 2:55am
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MADRID (AP) — British petrochemicals maker Ineos is investing $2 billion to build three plants in Saudi Arabia, as western companies appear to be shedding their reluctance to do business with the kingdom following the killing of Washington Post columnist Jamal Khashoggi by Saudi agents in Turkey last year.

Global outcry over the killing of Khashoggi, a critic of Crown Prince Mohammed bin Salman, prompted leading Western CEOs and officials to back out of the prince’s flagship investment forum in October.

The U.S. Congress has blocked about $2 billion in arms sales to Saudi Arabia in the past year, although the Trump administration is trying to work around Congress to supply arms to the kingdom.

The new Saudi plants are part of a partnership with Saudi Aramco and France’s Total.

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The Associated Press
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

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