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The American-Saudi alliance project aims to establish an oil refinery and a transit corridor for exporting energy outside the Strait of Hormuz, with investments reaching up to 5 billion dollars. The goal is to reduce dependence on the strait, which has recently been affected by the war with Iran. This project represents a strategic step to enhance the security of Gulf oil supplies and facilitate their access to global markets via a direct maritime route. It includes the construction of a refinery with an initial capacity of up to 200,000 barrels per day, focusing on producing high-quality intermediate and finished products such as diesel and jet fuel. The completion and operation are expected by the end of 2029, contingent upon site selection, environmental approvals, and financing arrangements. The project is also anticipated to create thousands of jobs during its development and operational phases.
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