Recently, the heads of state of China and Saudi Arabia personally signed an agreement on the establishment of a comprehensive strategic partnership between China and the Kingdom of Saudi Arabia in Riyadh, the capital of Saudi Arabia. Exchanges and cooperation between the two countries, and agreed to hold a meeting of heads of state in the two countries in turn every two years.

Contracted project

Shengong International Co., Ltd. and Silk Road Company signed a memorandum of cooperation on the production project of Shengong Saudi Arabia SBS modified asphalt and waterproof materials;

Jiahongyuan Saudi Environmental Technology Co., Ltd. and Silk Road Company signed a memorandum of cooperation on the Saudi sulfur and graphite electrode recycling project;

Wasion Information Technology Co., Ltd. and Silk Road Company signed a memorandum of cooperation on the Saudi Wasion Information Intelligent Instrument Production Project;

Dalian Okemembrane Technology Engineering Co., Ltd. signed a memorandum of cooperation with Silk Road Company on the production project of Okemembrane in Saudi Arabia;

Tianji Automobile International (Hong Kong) Co., Ltd. and Silk Road Company signed a memorandum of cooperation on the Saudi Tianji new energy vehicle production project;

Shanghai Kuaicang Intelligent Technology Co., Ltd. and Silk Road Company signed a memorandum of cooperation on the Saudi Kuaicang logistics robot production project;

Guanxuan Catering Management (Shenyang) Co., Ltd. and Silk Road Company signed a Saudi tea industry investment and coffee and tea automation machinery and equipment manufacturing project.

Nine Chinese companies signed contracts with ACWA Power

Huawei signed an investment agreement with the Saudi Ministry of Communications and Information Technology (MCIT);

Lianyirong, a supply chain financial company invested by Tencent and CITIC Capital, AutoX, an autonomous driving company invested by Ali, and Jianhui Information, a pharmaceutical logistics automation provider, signed investment agreements with Saudi Ajlan & Bros Holdings Group (Ajlan & Bros).

CITIC Construction and its Saudi partner, Rafal, signed a cooperation agreement with the Saudi Housing Company on a 20,000-unit social housing project in Riyadh, Saudi Arabia, with a project value of approximately US$3.5 billion. It will adopt prefabricated housing technology and support investment in the construction of a prefabricated construction industrial park. The project has recently started the joint research and development of prefabricated building technology, the overall planning of the housing block, and the site selection of the industrial park. It is expected that the relevant planning and preliminary design work will be completed in mid-2023, and the substantive construction will begin.

China State Construction signed a cooperation agreement with the Saudi Housing Company and the Saudi Ministry of Urban and Rural Affairs and Housing. The specific content of the cooperation project was not disclosed. In October 2022, China State Construction signed the contract for the second and third tenders of the NEOM New City Traffic Tunnel in Saudi Arabia, which became the epitome of its high-quality overseas market development.

China General Nuclear Energy International Holdings Co., Ltd. and AlJomaih Group signed a framework cooperation agreement in Riyadh, Saudi Arabia, and will work together to build over 10 million kilowatts of energy projects in Saudi Arabia, Laos, Bangladesh, Azerbaijan and other countries. According to the agreement, CGN Energy International and AlJomaih Group will jointly develop multiple solar, wind, gas and thermal power generation projects in the Arabian Persian Gulf region, Bangladesh, Azerbaijan and other regions in Asia, with a cumulative contracted installed capacity exceeding 10 million kilowatts.

China Harbor and Saudi Ajran Group formally signed a strategic cooperation agreement. In the next stage, the two parties will focus on Saudi Arabia and key third-party markets, and focus on large transportation and large cities to carry out cooperation.

JinkoSolar signed a memorandum of understanding with Saudi Arabian developer ACWA Power to provide the latter with 4GW of high-efficiency N-type TOPCon Tiger Neo photovoltaic modules.

Sinopec and Saudi Aramco signed a cooperation framework agreement on the Fujian Gulei Phase II project. The second phase of the project plans to build 16 million tons/year of oil refining, 1.5 million tons/year of ethylene cracking and downstream derivatives integration equipment, which is expected to be completed and put into operation by the end of 2025 .

Energy China International Group signed a green hydrogen project cooperation development memorandum with the Egyptian New Energy Authority, the Suez Canal Economic Zone Authority, the Sovereign Fund, and the Power Transmission Company, becoming the only internationally renowned investment developer that has signed a cooperation agreement with the Egyptian government Chinese-funded enterprises that develop agreements.

  It can be seen that during the China-Saudi Arabia Summit, central enterprises such as China State Construction, CITIC Construction, China Harbor Engineering, China General Nuclear Power, and China Energy Construction can be seen everywhere. At present, China State Construction Engineering Corporation has experience in housing construction projects in Saudi Arabia, and it is the first time for CITIC Construction to enter the Saudi market. Chinese companies implementing social housing projects in Saudi Arabia also include Energy Construction International Group and China Metallurgical Group. Editor/He Yuting