Aramco, Sinopec sign deal to grow Yasref plant

Post by: Pratik Kumar

Photo : SPA

Saudi Aramco, a big oil company from Saudi Arabia, is working together with Sinopec, a large company from China, and Yasref, a company they both own. They have signed a new deal to make a big chemical plant in the city of Yanbu, which is on the west side of Saudi Arabia.

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This deal was signed as Yasref celebrates 10 years since it started. The plan is to build a new part inside the Yasref factory that will help make many kinds of useful chemicals. Aramco owns more than half of Yasref, while Sinopec owns the rest.

The new part will have two big units. One is called a steam cracker, which will make 1.8 million tons of chemicals every year. The other unit will make 1.5 million tons of aromatics, which are used in things like plastics and clothes. These units will be joined to the factory that is already there. This will help Yasref work better and make more good-quality products that people need.

Amin H. Nasser, the head of Aramco, said this deal shows that Aramco and Sinopec are strong partners. He said this new plan will bring more ideas and more kinds of products. He also said they want to help make Saudi Arabia a top country in energy and chemicals.

Another Aramco leader, Mohammed Y. Al Qahtani, said the new plant will help Aramco’s plan to change up to four million barrels of oil every day into chemicals by the year 2030. He said working with Sinopec will help build smart and strong factories that bring new jobs, grow the industry, and help the country’s future.

Zhao Dong, the head of Sinopec, said Yasref is a great example of how China and Saudi Arabia can work well together. He said Yasref has helped Saudi Arabia’s economy and also helped make better factories. He hopes this new plan will help both companies grow and build a world-class factory.

They also said Aramco and Sinopec are working on other joint projects in China, in places like Fujian and Tianjin. These projects are meant to keep energy safe, build better ideas, and help both companies work together for a long time.

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