China firm, Aramco plan US$10b re­fin­ery

New Straits Times - - Business World -

BEI­JING: China North In­dus­tries Group Corp has signed a frame­work agree­ment with oil gi­ant Saudi Aramco to build a re­fin­ery and chem­i­cals com­plex in northeast China, in­dus­try and govern­ment of­fi­cials said yes­ter­day. The planned projects are to be built at an es­ti­mated cost of US$10.09 bil­lion (RM43.6 bil­lion), said one in­dus­try of­fi­cial. The in­vest­ment would boost Aramco’s pres­ence in China’s re­fin­ing in­dus­try, adding to its 25 per cent stake in the Fu­jian re­fin­ery in south­east China. Agen­cies

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