On July 1, 2021, the groundbreaking ceremony for the second phase of the China-Saudi Arabian high-tech cooperation project-SZG Saudi Plastics New Materials and Electro-Optics Manufacturing Base Project was held in Jubail, Saudi Arabia, marking a new level of China-Saudi Arabia production capacity cooperation.

At the groundbreaking ceremony on the day, China and Saudi Arabian companies including China Deep Industry New Energy Co., Ltd. and Saudi Basic Industries Corporation also completed five key cooperation projects. The total contracted investment reached 1 billion US dollars. The industry covers new materials, Medical equipment, industrial Internet, circular economy, green energy and other fields.

Saudi Arabia’s Jubail and Yanbu Royal Commission Chairman Abdullah Sadan stated that the SZG Saudi project was launched in Saudi Arabia in November 2020. The first phase of the project has reached the conditions for commissioning, and the second phase of the project has begun construction, which is really efficient. . Saudi Arabia hopes to attract more Chinese investment.

Gu Xiaobin, chief economist of the Guangzhou Development Zone Management Committee, one of the Chinese representatives of China-Saudi Arabia capacity cooperation projects, said that in recent years, China-Saudi Arabia capacity cooperation has developed steadily, and the deep-going Saudi Arabia project is progressing smoothly, which will provide strong support for China-Saudi Arabia capacity cooperation.

SHENGONG Saudi Arabia Project

According to reports, the SZG Saudi Arabia project was officially launched in the Jubail Park on November 18, 2020. Up to now, the first phase of the project has the capacity to put into operation, and it is planned to be put into operation this month, and the second phase is expected to be completed in 2023. The project utilizes Saudi Arabia’s rich petroleum refining product resources to develop and produce new plastic modified materials that meet the needs of specific industries such as aviation and automobiles. The total investment of the project is about 892 million US dollars. After completion, the annual output value is about 2.209 billion US dollars, which will drive employment. The number is about 10,000.

The SZG Saudi project is also a demonstration project of domestic and international dual-cycle development. The project transports the materials produced in Saudi Arabia back to Guangzhou and processes them into parts. On the one hand, it meets the demand for new upstream materials for the development of domestic high-tech industries and fills the shortage of high-end new materials such as 3D printing, medical and new energy in China; on the other hand, it combines supporting facilities. R & D and production of semiconductor LED light sources, AI control modules, smart appliances and smart home products, and transport parts to Saudi Arabia to assemble finished products, radiate the Middle East, Europe and other markets, and penetrate Chinese brands into foreign markets. Editor/Tian Zengpeng