Aramco, its subsidiary Saudi Aramco Jubail Refinery Company, and an affiliate of Rongsheng Petrochemical have recently signed a development framework agreement in Beijing to promote the SASREF expansion plan in Jubail, Saudi Arabia.

The agreement covered the design and development cooperation mechanism, aiming to enhance SASREF's refining and petrochemical capabilities while promoting international cooperation.

Aramco Downstream President Mohammed Y. Al Qahtani said the move demonstrated Aramco’s determination to promote global downstream expansion and emphasized Saudi Arabia’s potential to attract international investment.

Li Shuirong, chairman of Rongsheng Petrochemical, pointed out that the plan will inject impetus into the cooperation between the two parties and support China’s Belt and Road Initiative and Saudi Arabia’s Vision 2030.

The SASREF expansion project is located in Jubail Industrial City and is currently in the PREFEED stage. It was planned to build large-scale steam crackers and integrate the relevant downstream derivatives into the existing SASREF complex to meet the growing demand for high-quality petrochemical products.