Chinese and Saudi Giants Sign Pact to Jointly Develop 35 Industrial Units in China

On May 14, Huajin Aramco Petrochemical and Kingfa Sci. & Tech. Co. formalized a strategic cooperation framework agreement to drive integrated development across petrochemicals and advanced materials. This partnership marks a major step in aligning resources from two key players in China’s northeast industrial corridor.

Huajin Aramco President Jin Xiaochen emphasized the synergy between the two companies, noting their proximity and positioning in upstream and downstream sectors of the petrochemical chain. He highlighted the opportunity to foster joint platforms in innovation and R&D, accelerating the industry’s transition toward high-end, intelligent, and green growth.

Li Peng, Director and VP of Kingfa, described the two firms as “friendly neighbors with extensive room for synergy.” He expressed confidence that this agreement is only the beginning of a deep collaboration, supported by a regular joint meeting mechanism to advance cooperation in technology, markets, and supply chains.

The deal outlines cooperation in energy and material exchange, product sales, logistics, and analytical services, all under the principles of mutual benefit and long-term development.

At the heart of this partnership is the 837-billion-yuan Huajin Aramco Petrochemical Complex in Panjin, Liaoning Province. A flagship Belt and Road project between China and Saudi Arabia, it comprises 32 production units, including 20 in refining and 15 in chemicals, such as a 1500 kt/year steam cracker and 3 polypropylene lines. This vast complex is set to become a cornerstone of China’s northern petrochemical hub.