Saudi Aramco will start building a huge refining complex in northeastern China as soon as next month, reviving a plan to be an all-inclusive source of energy and chemicals as the Asian nation eyes long-term energy security, reports Bloomberg.
Aramco agreed to the deal with North Huajin Chemical and Panjin Xincheng to start construction on the refinery and petrochemical complex in Liaoning Province, Amin Nasser, the Saudi company’s president and chief executive officer, said at the China Development Forum in Beijing on Sunday.
“We see a major win-win opportunity to build a world-leading, integrated downstream sector in China, with special emphasis on the high conversion of liquids directly into chemicals as part of our broader liquid-to-chemicals business expansion plans,” Nasser said. Aramco wants to be an all-inclusive source of energy and chemicals for China’s long-term energy security and China’s high-quality development, he said.
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