The launch of the first high-tech project of industrial capacity cooperation between China and Saudi Arabia
Source: Economic Daily 【VIEW】
Economic daily Agency, Riyadh, November 19th, The launching ceremony of ShenGong (Saudi) Plastics New Materials and Electro-Optical Industry Manufacturing Base Project (hereinafter referred to as "SG Saudi Capacity Cooperation Project") was held in Jubal, Saudi Arabia in November 18, 2020. China ShenGong New Material Co., Ltd. signed a land lease agreement with Saudi Arabia’s Jubail and the Royal Commission of Yanbu on the 18th, and signed a memorandum of cooperation with Saudi Silk Road Industrial Services Company. This project takes advantage of Saudi’s oil raw material and chemical industry to research and manufacturing plastic components for aviation, automobile and other specific industries. It will also introduce the semiconductor LED light chips, AI control module, and other related downstream industries, researching, developing and manufacturing LED lighting, electrical socket, AI intelligent terminal and other electric products to facilitate the establishment of ShenGong industrial park in Saudi Arabia. The project's estimated total investment is approximately US $892 million.
At the same time, in order to cooperate with the ShenGong (Saudi ) project, ShenGong will simultaneously build a "high-end new materials and electronic components manufacturing and research base" in Huangpu District and Guangzhou Development Zone, to help the common development of upstream and downstream supporting manufacturers in the high-end new materials industry, and create a demonstration project of "Dual Circulation" economical model of China. Abdullah Al Sadaan, Saudi Royal Commission President for Al-Jubail and Yanbu, said China has maintained close cooperation on investment, trade and economy. A lot of Saudi companies have achieved great success in to China while many Chinese investors carry out their business in royal commission industrial area, the silk road industrial company will provide the service for Chinese enterprises in Saudi. The Saudi Royal Commission will also, as always, provide support and assistance to Chinese enterprises in Saudi Arabia.
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The Governor of Saudi Arabia General Investment Authority on Behalf of the Saudi Government Signed the Cooperation Agreement with SHEN GONG Group.
On January 31st, 2020, the Governor of Saudi Arabia General Investment Authority on Behalf of the Saudi Government Signed the Cooperation Agreement with SHEN GONG Group.2022-05-11
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SHEN GONG Group Signed the Cooperation Agreement with the Saudi Aramco in Dhahran, Saudi Arabia.
On February 23th, 2020, SHEN GONG Group signed the cooperation agreement with the Saudi Aramco in Dhahran, Saudi Arabia. The Saudi Aramco would strategically support the development of SHEN GONG’s project in Saudi Arabia; also, SHEN GONG Group would make great contributions to diversifying the Saudi economy and enriching the downstream petrochemical industry.2022-05-11
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The launch of the first high-tech project of industrial capacity cooperation between China and Saudi Arabia
Economic daily Agency, Riyadh, November 19th2020-11-26
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"One Belt And One Road" China-Saudi Arabia International Cooperation on Industrial Capacity • ShenGong - Saudi Arabia Capacity Cooperation Project officially to launch
Source: Yinchuan Economic Development Zone, "One Belt One Road" China-Saudi Arabia International Capacity Cooperation•ShenGong New Materials Saudi Arabia Capacity Cooperation Project officially launched2020-11-26
