Saudis Study $65 Billion in China Investments During King's Trip
- MOUs signed during Beijing visit cover energy to theme parks
- Saudis courting foreign investment in economy, Aramco IPO
Xi Jinping and King Salman bin Abdulaziz Al Saud inside the Great Hall of the People on March 16.
Photographer: Lintao Zhang/Getty ImagesThis article is for subscribers only.
Saudi Arabian Oil Co. may deepen investment in China’s oil industry as part of $65 billion worth of potential deals signed between the two countries in everything from energy to manufacturing and a theme park.
Amin Nasser, chief executive officer of the Saudi state crude producer, signed a memorandum of understanding with China North Industries Group Corp. on Thursday to explore downstream oil opportunities. Saudi Aramco, as the company is known, is already a partner in refineries and petrochemical plants in the country. The Chinese company, known as Norinco, manufactures weapons and machinery and also has a refining unit.