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2022-03-15 14:55:00

SAUDI INVESTMENT FOR CHINA

SAUDI INVESTMENT FOR CHINA

ENERDATA14 Mar 2022 - Saudi Arabia's national oil company Saudi Aramco has taken the final investment decision (FID) to participate in the development of a 300,000 bbl/d refinery in the city of Panjin, in China’s Liaoning Province. Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group, will develop the project. The decision, which is subject to finalization of transaction documentation, regulatory approvals and closing conditions, follows the establishment of HAPCO in December 2019 between the three partners. The project  is expected to be operational in 2024.

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Tags: SAUDI, ARAMCO, CHINA, INVESTMENT, OIL