China, Saudi Arabia pledge collaboration

The heads of Saudi Basic Industries Corp. (SABIC) and Saudi Aramco signed agreements with Chinese refining and chemical firms during a visit to China with a delegation led by Saudi King Salman bin Abdulaziz. SABIC and Sinopec agreed to study an unspecified Chinese investment in Saudi Arabia and to consider additional investments in their petrochemical joint venture in Tianjin, China. Aramco and Sinopec will continue to study building a coal-to-chemicals complex in Ningxia Province. Aramco and China North Industries will explore a refinery and petrochemical joint venture. And Aramco agreed to study a reinforced plastics investment with the Chinese firm Aerosun.