ARAMCO - NORINCO AGREEMENT $10 BLN
OGJ - Saudi Aramco has signed a $10-billion agreement to form a joint venture with China North Industries Group Corp. (Norinco) and Panjin Sincen to develop a fully integrated, grassroots refining and petrochemical complex in Panjin, in China's Liaoning province.
Under the agreement—the largest Sino-foreign JV to date—the partners will create a new company—Huajin Aramco Petrochemical Co. Ltd.—as part of a project that will include a 300,000-b/d refinery as well as a 1.5 million-tonne/year ethylene cracker…
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