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Saudi Arabia's Aramco will invest billions of dollars in China's downstream petrochemicals industry, including the construction of a new refinery. Aramco will acquire a 10% interest in China's Rongsheng Petrochemical Co. Ltd., a purchase valued at $3.6 billion, and the company also plans to construct a new refinery and petrochemical complex in northeastern China through a joint venture.

Saudi Aramco invests billions in China refinery deals

Saudi Arabia’s Aramco will invest billions of dollars in China’s downstream petrochemicals industry, including the construction of a new refinery. Aramco will acquire a 10% interest in China’s Rongsheng Petrochemical Co. Ltd., a purchase valued at $3.6 billion, and the company also plans to construct a new refinery and petrochemical complex in northeastern China through a joint venture.

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