Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes in China during the Saudi Arabian Crown Prince’s visit this week, sources familiar with the plans said, as Beijing seeks expanded ties with Riyadh.
The Saudi delegation, including top executives from Aramco, arrived in Beijing on Thursday for a two-day visit, part of the crown prince’s Asia tour, during which the kingdom has pledged $20 billion of investment in Pakistan and sought additional investment in India’s refining industry.
Mohammed bin Salman will meet Chinese President Xi Jinping, who has made stepping up China’s presence in West Asia a key foreign policy objective, despite its traditional low-key role there. China has given few details about the visit.
