Four deals signed for Sino-Saudi Arabian cooperation

Four agreements aimed at advancing Sino-Saudi Arabian cooperative production capabilities were signed during a video conference on July 1, following joint efforts by Guangzhou High-Tech Industrial Development Zone and Yinchuan Economic and Technological Development Zone.

Ibuychem's cross-border e-commerce platform will help "match-make" Saudi raw materials with the Chinese market, by using industrial data from four major industrial parks in Saudi Arabia.

SG Group will cooperate with two Saudi Arabian enterprises to produce SBS modified asphalt, SBS polymer and modified plastics, which can be widely used in medical treatments, architecture, transport and agricultural industries.

Agreements are signed on four products via a video conference on July 1 to advance Sino-Saudi Arabian cooperative production capabilities.

In addition, a Jiahongyuan "circular economy" project will create a comprehensive layout centered on red mud processing, waste iron, waste tires, automobile recycling and reproduction, phosphogypsum, and sludge processing in the four major industrial parks.

The second phase of a plastic materials and electronic optics industry manufacturing base invested by SG New Materials (Guangzhou) began construction on the same day.

Guangzhou High-Tech Industrial Development Zone and Yinchuan Economic and Technological Development Zone signed an agreement with a Saudi Arabian oil company in 2016 to set up a joint venture and help with Sino-Saudi Arabian cooperative production capabilities. To date, two projects have settled, 10 are ready to settle and more than 40 are under negotiation.

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