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HBG, Mackeen and Ravago to invest $100 million in Al Jubail

1:40 PM MST | November 20, 2013 | Natasha Alperowicz in Dubai

HBG Petrochemical Holdings  (HPHL), an Arabian Gulf based downstream petrochemical investment firm, Mackeen Age Investment Holdings and Ravago (Arendonk, Belgium) today announced the formation of a joint venture. The announcement was made during the GPCA annual forum currently taking place in Dubai. The new firm, Ravago Middle East Co. will invest 375 million Saudi riyals ($100 million) to establish a polymers and elastomers reprocessing and compounding plant at Al Jubail, Saudi Arabia.   “We are convinced that the Middle East is one of the growth...

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