KHOBAR, Saudi Arabia, March 16 Saudi Arabia's
King Salman oversaw the signing of deals worth as much as $65
billion on the first day of a visit to Beijing on Thursday, as
the world's largest oil exporter looks to cement ties with the
world's second-largest economy.
The agreements include deals for infrastructure, refining,
chemicals, training, technology and other sectors:
- Saudi Aramco and Norinco Group
signed a memorandum of understanding (MoU) to develop
a refinery and chemical facilities in Panjin City.
- Saudi Aramco and Aerosun Corp signed an MoU to
manufacture reinforced thermoplastic pipe and components.
- The Saudi Fund for Development signed an agreement with
China Export & Credit Insurance Corporation to cooperate in
providing finance and guarantee of exports.
- King Abdulaziz City for Science and Technology and China's
CASA signed an agreement to manufacture drones.
- SABIC and Sinopec signed an agreement to study
opportunities for joint projects in Saudi Arabia and China.
- Saudi's SAGIA investment authority awarded licenses to
telecommunications equipment supplier ZTE to build smart metres
and Shandong Tiejun Electric to carry out electrical and
- Saudi's Royal Commission for Jubail and Yanbu signed an
agreement with PAN-ASIA to assign the location for a petchem
project with $2 billion investments.
- China's Huawei will build a centre for training in Yanbu.
Saudi companies also signed agreements with Chinese
developers in areas including information technology and
(Sources: Saudi Press Agency, Saudi Energy Ministry Twitter
(Compiled by Reem Shamseddine, Katie Paul and Marwa Rashad)