Khalid Falih added, in an interview with Rossiya 24 television channel, that these plans could be advanced by Saudi Arabia’s partnership with Sibur, a Moscow-based petrochemical company.
"I hope that our cooperation with Sibur will allow Saudi Aramco and Sabic to invest in the construction of a petrochemical factory in Russia," he said.
READ MORE: Saudi Arabia, Russia to Extend Agreement on Preserving Oil Market Stability
Saudi Aramco and Sibur signed a tentative cooperation agreement last year. Russian Energy Minister Alexander Novak said at that time the two petrochemical giants planned to ink a $1.1-billion deal on a factory project in Saudi Arabia.