Saudi - Chinese cooperation to establish petrochemical factory

Saudi Arabia and China, signed yesterday an agreement for mutual investments that dictates the establishment of three petrochemical factories though trilateral cooperation between the Saudi Aramco company, the Chinese government and American company Exxon.

The agreement also includes the expansion and modernization of a Chinese refinery for Arab heavy petroleum, and the use of some of the refinery's products to establish advanced industries based on Chinese techniques.

Meanwhile, diplomatic sources in the Chinese embassy said that Saudi Crown Prince Abdullah Bin Abdul Aziz has agreed upon building strategic cooperation ties, specifically regarding petrochemicals and petroleum.