Saudi Arabia, China agree on industrial firm with $30 mln capital

24/08/2017 Argaam

Saudi Arabia has agreed to set up an industrial JV in Jazan, in partnership with the Royal Commission for Jubail and Yanbu (RCJY), Saudi Aramco, and a Chinese firm, energy minister Khalid Al-Falih said on the sidelines of the Chinese-Saudi investment forum held in Jeddah, Bloomberg reported on Thursday.

 

The new entity, which will be capitalized at $30 million, aims to attract more Chinese investments to the Saudi industrial sector.

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