Sinopec and Aramco Sign Venture Framework Agreement to Expand Yanbu Refinery
Collaboration Aims to Build a World-Class Integrated Refining and Petrochemical Complex
YANBU INDUSTRIAL CITY, Saudi Arabia, April 10, 2025 /PRNewswire/ -- On the 10th anniversary of the establishment of the Yanbu Refinery joint venture, China Petroleum & Chemical Corporation ("Sinopec," HKG:0386) and Saudi Arabian Oil Company ("Aramco") signed a venture framework agreement ("VFA") to advance the Yanbu Refinery Expansion Project.
The project will leverage existing facilities to construct new units, including a large-scale mixed feed steam cracker of 1.8 million metric tons per year ethylene plant, a 1.5 million ton per year aromatics plant with associated downstream polyolefin units, enhancing integrated refining and petrochemical synergies and fostering an innovative, full-industry-chain ecosystem. Upon completion, the expansion will significantly boost production capacity for high-end petrochemical products, support Saudi Arabia's industrial diversification strategy, and meet growing global market demand.
"The Yanbu Refinery stands as a testament to the strong friendship between China and Saudi Arabia, delivering robust economic benefits and advancing the petrochemical industry's modernization," commented Zhao Dong, Sinopec Group President. "This expansion will unlock greater synergies between Sinopec and Aramco, creating a world-leading integrated refining and petrochemical enterprise with global competitiveness. Together, we will contribute to a low-carbon energy transition."
Aramco President & CEO Amin H. Nasser emphasized, "The Yanbu expansion agreement deepens Aramco's strategic partnership with Sinopec. By prioritizing product innovation and diversification, we aim to reinforce Saudi Arabia's leadership in the global energy and chemicals landscape while positioning Yanbu as a premier integrated refining and petrochemical hub."
The Yanbu Refinery, a flagship collaboration under Saudi Arabia's Vision 2030 and China's Belt and Road Initiative, is located in Yanbu Industrial City, Saudi Arabia. The Yanbu Refinery spans 5.2 million square meters and processes 430,000 barrels per day of Saudi heavy crude oil, producing high-quality refined products and value-added chemicals for global markets. As a pivotal energy hub in the Middle East, the refinery has driven Saudi Arabia's industrial modernization and international engagement.
The expansion project marks a new chapter in the partnership, combining technological innovation and industrial chain optimization to upgrade traditional energy cooperation models and explore sustainable development pathways.
The expansion project will integrate new ethylene, aromatics, and polyolefin units with existing infrastructure, elevating the complex's refining-petrochemical integration capabilities and expanding production of high-performance materials. It will also incorporate advanced technologies and green innovations to support Saudi Arabia's economic diversification and decarbonization goals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
02-06-2025
- Korea Herald
XSQUARE Technologies and Alkhorayef Commercial Company Sign MoU to Advance Saudi Arabia's Logistics Landscape
SINGAPORE, June 2, 2025 /PRNewswire/ -- Singapore-based XSQUARE Technologies and Alkhorayef Commercial Company (ACC), a leading integrated commercial and industrial solutions provider in the Kingdom of Saudi Arabia, have signed a Memorandum of Understanding (MoU) to establish a strategic framework for collaboration aimed at accelerating the adoption of intelligent warehouse automation and transforming intralogistics operations across Saudi Arabia. The signing took place at the Saudi Warehousing & Logistics Expo 2025. The MoU seeks to integrate ACC's growing logistics capabilities and XSQUARE's next-generation intelligent warehouse automation solutions – comprising a suite of Autonomous Mobile Robots (AMRs) and a warehouse orchestration software – to deliver a high-performance, safe, and scalable intralogistics solutions for the Saudi market. Under the agreement, both companies will collaborate on joint market outreach and the deployment of customisable end-to-end automation solutions across key logistics and industrial hubs. The partnership will also include the development of pilot projects and demonstrations to showcase the operational efficiencies and economic benefits of AMR-enabled logistics. Fahad AlJaddan, CEO of Alkhorayef Commercial Company, commented: " This partnership marks a significant step forward in our journey to shape the future of logistics in Saudi Arabia. By working with XSQUARE Technologies, we are bringing cutting-edge automation into our ecosystem and empowering our customers with solutions that are efficient, intelligent, and built for scale. We look forward to advancing Saudi Arabia's logistics landscape in support of Vision 2030's agenda." As part of its commitments, ACC will leverage its strong local presence and logistics expertise to support the deployment of XSQUARE's automation technologies. This includes promoting AMRs as solutions to key customers and providing commercial insights to guide market adaptation. XSQUARE Technologies, in turn, will provide technical enablement and integration support, including training, product documentation, and solution roadmaps. The company will also provide access to dedicated experts to support localisation efforts and execute pilot projects. Jens Bohnwagner, CEO of XSQUARE Technologies, commented: "Partnering with ACC will allow us to bring our proven automation technologies into a rapidly evolving market with immense potential. As a respected leader in the region's logistics sector with deep market knowledge and operational excellence, ACC is an ideal partner in our journey. We see this collaboration as a powerful platform to demonstrate both the impact and adaptability of our warehouse automation solutions to the specific demands of Saudi Arabia and the region." The MoU is a clear demonstration of both companies' shared commitment to a long-term partnership dedicated to driving the transformation of Saudi Arabia's logistics sector through innovation and adaptability. About XSQUARE Technologies XSQUARE Technologies is at the forefront of the logistics revolution, offering cutting-edge warehouse automation solutions across Asia Pacific and beyond. Backed by Goldbell Group's 40 years of expertise, we offer a suite of Autonomous Forklifts and Intelligent Warehouse Orchestrator software that set new standards in interoperability and efficiency, simplifying warehouse operations without the need for extensive reconfiguration and thus saving time and costs. Spanning a diverse range of industries from pharmaceuticals to manufacturing, we have a rapidly growing clientele that benefits from our innovation-driven, real-world-tested solutions. Visit to learn more. Alkhorayef Commercial (ACC), established in 1957, is a provider of integrated industrial solutions across key sectors, including agriculture, logistics, marine, and entertainment in Saudi Arabia. Through partnerships with global brands, ACC supplies high-quality products and comprehensive aftersales services to enhance efficiency, reliability, and sustainability.
Korea Herald
29-05-2025
- Korea Herald
From Ancient Canal to Modern Connector: Cangzhou Drives Development in Northern China
The city's growth strategy balances industry and livability across the Beijing-Tianjin-Hebei region CANGZHOU, China, May 29, 2025 /PRNewswire/ -- A news report from Xinhuanet: As the first light of day breaks over Bohai Bay, casting long shadows across the cranes at the Port of Huanghua, and the waters of the Grand Canal reflect the passage of high-speed trains, Cangzhou is emerging as a key player in the regional cooperation efforts within the Beijing-Tianjin-Hebei corridor. By pursuing regional integration and connectivity, the city is driving industrial modernization, encouraging innovation, and improving quality of life—efforts that are reshaping the local economy and strengthening ties across northern China. Over the past two years, Cangzhou has attracted 131 projects from Beijing and Tianjin, totaling 55.6 billion yuan (approximately $7.7 billion USD) in investment. These projects have sparked a wave of innovation and industrial activity. Meanwhile, 45 subsidiaries of central state-owned enterprises—mainly in the secondary and tertiary sectors—have expanded operations in the city. One prominent example is the Beijing-Tianjin-Hebei Cangzhou Biomedical Industrial Park, which adopted a regulatory model in which pharmaceutical firms based in Hebei are supervised by authorities in Beijing. The arrangement draws on Beijing's research and development expertise and Hebei's manufacturing capacity, reinforcing cross-regional synergies. As a fast-rising hub in the broader regional framework, Cangzhou is positioning itself as a destination of choice for companies relocating from Beijing and Tianjin, offering a stable, business-friendly environment. Advanced technologies are taking root: the BeiDou Navigation Satellite System's "Sky Eye" now monitors its regional operations center in Hebei, while a pilot demonstration project for membrane materials has been selected as one of the region's top ten collaborative initiatives. Scheduled for inauguration in October, the Yanzhao Green Chemical Engineering Laboratory is set to become a major asset. The city recorded 7.4 billion yuan in technology-related contracts in 2024, marking a 131 percent year-on-year increase—a signal of accelerating momentum. In partnership with the Xiong'an New Area, Cangzhou is expanding the Xiong'an Free Trade Zone and the adjoining Cangzhou Innovation Zone. The new Logistics Industry Center within the Xiong'an Innovation Zone is now operational, and the Port of Huanghua has opened a bonded warehouse as part of the Xiong'an–Huanghua Port container intermodal route. This shipping corridor operates under a unified "regional port pass" customs model, streamlining cross-border logistics and underlining Cangzhou's alignment with national economic development plans. As the port positions itself as a key maritime hub in China's Belt and Road Initiative, the new logistics channel represents a concrete step forward in regional infrastructure integration and shared growth. Major transportation upgrades are also reshaping the region. The reconstruction and expansion of the Rongwu Expressway have been completed, while the first phase of the Qugang Expressway and the new stretch of provincial highway S327—connecting Langfang and Xiong'an via Cangzhou—are now open to traffic. Additional projects in progress include the Handan–Huanghua Port Expressway, the Shijiazhuang–Hengshui–Cangzhou–Huanghua Port Intercity Railway, and new high-speed lines linking Xiong'an to Shangqiu and Tianjin to Weifang. Together, these routes position Cangzhou within a broader regional network—part of a government initiative to ensure that key destinations are accessible within 30 minutes by residents across the region—improving daily commutes and facilitating the free flow of people, capital, and innovation. Industrial growth in Cangzhou is also accompanied by investments in public services. The city has established education partnerships between 206 local schools and institutions in Beijing and Tianjin. It is now home to 21 regional medical consortiums, boosting healthcare access and positioning Cangzhou as an attractive option for retirement. To date, 23,600 seniors from Beijing, Tianjin, and neighboring areas have relocated to the city. Over the recent May Day holiday, Cangzhou recorded more than 4 million tourist visits—a 21.3 percent increase from last year—with travelers from Beijing and Tianjin accounting for over 30 percent of the total. Today, Cangzhou's industrial clusters are thriving, its public services are expanding, and its economy is outpacing both provincial and national benchmarks. The city reported a gross domestic product of 472.28 billion yuan in 2024, reflecting a 5.5 percent increase year over year. Historically famed for its martial arts, acrobatics, and cast-iron lions, this ancient canal town is rapidly evolving into a modern coastal economic engine. By building on its heritage while looking outward, Cangzhou is cementing its role as a dynamic force in the ongoing transformation of the Beijing-Tianjin-Hebei region.
Korea Herald
28-05-2025
- Korea Herald
Naver launches joint ventures to power Saudi smart city projects
Naver Cloud, the cloud service subsidiary of Korean tech giant Naver, said Wednesday it has completed an agreement with Saudi Arabia's National Housing Company to establish a strategic joint venture aimed at expanding smart city and digitalization initiatives in the Middle Eastern country. The new entity, Naver Innovation, will be the first business unit under Naver Arabia, the internet giant's base for Middle East operations. The joint venture is backed by investments from Naver Cloud and NHC's subsidiary, NHC Innovation, according to Naver. Naver Innovation will focus on developing and operating a map-based application for public transportation tailored for Saudi citizens and travelers. It also plans to expand into Naver's ongoing digital twin platform projects in the country. Digital twin platforms, which virtually replicate real-world environments, are used to support smart city development. In 2023, Naver secured a deal with the Saudi government to create digital twin platform for Riyadh and four other cities in the country. The upcoming platform, which will feature cutting-edge functions such as flood prediction, traffic flow analysis and population distribution analysis, is set to be deployed soon across Saudi cities. 'This joint venture demonstrates Saudi Arabia's commitment to introduce world-class technologies while localizing solutions to meet the needs of the local community,' said Ryan Alaql, CEO of NHC Innovation. 'Together with Naver Cloud, we will create a smart city that meets the goals of sustainability, innovation and improved quality of life under the Saudi Vision 2030.' 'It is a meaningful opportunity to work with local partners in driving Saudi Arabia's digital transformation,' said Naver Cloud CEO Kim Yoo-won. 'Naver Cloud will actively cooperate as Saudi Arabia leads innovation in the smart city sector.'
