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Aramco, China firms form $10.6bn JV

Global oil giant, Saudi Aramco, has set up a CNY71.2 billion ($10.6 billion) joint venture in China’s Liaoning province with two local partners as it looks to set up a new chemicals plant in the northeastern region.Saudi Aramco, China North Industries and Panjin Xincheng Industrial Group set up Huajin Aramco Petrochemical on March 23, state-backed news site The Paper reported. They had agreed to establish the JV last month, with China North holding 36 per cent, Saudi Aramco 35 per cent and...

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