BEIJING May 16 Chinese defense conglomerate
China North Industries Group Corp (Norinco) signed a framework
agreement with state-run oil company Saudi Aramco to build a
refinery and chemical complex in northeast China, industry and
government officials said on Tuesday.
The planned projects, including a 300,000 barrels per day
refinery and a 1 million tonnes-per-year ethylene complex, were
estimated to cost 69.5 billion yuan ($10.09 billion), according
to one industry official with knowledge of the agreement.
The framework pact follows a memorandum of understanding the
two companies signed in March.
(Reporting by Chen Aizhu; Editing by Christian Schmollinger)