Beijing- Minister of Energy Khalid Al-Falih said that his country is ready to meet the increasing demand for energy from China during the upcoming decades, adding that Saudi companies specifically Sabic and Aramco are ready to invest in Chinese regions in partnership with Chinese companies.

On the sidelines of the visit of Deputy Crown Prince Mohammed bin Salman bin Abdulaziz and Second Deputy Premier and Minister of Defense to Beijing, Falih held several meetings with leaders of major sectors in China to develop bilateral relations and introduce the Saudi Vision 2030 plus mull potential cooperation opportunities.

Falih said that these meetings help the Kingdom get ready to fulfil the increasing demand of energy from China in the upcoming decades and prepare Saudi companies such as Aramco and Sabic to invest in Chinese regions. He pointed out that there are promising growth chances for Chinese energy and chemicals companies to be part of the economic transformation in Saudi Arabia, under the framework of Saudi Vision 2030.

“During the visit, twenty memorandums of understanding (MoU) were signed among Saudi and Chinese companies to pave the way towards more cooperation between the two parties,” said Falih. Commenting on the mining sector, he said: “Minerals and mining sector in Saudi Arabia is ready to cooperate with Chinese companies of wide experience.”

The Minister of Energy added that Saudi Arabia provides logistic sites and technical training centers to support the huge expansion process and that the visit of Deputy Crown Prince Mohammed bin Salman bin Abdulaziz to China reflects solid relations between the two countries and high coherence between the Chinese Silk Road and Saudi Vision 2030.