Saudi Aramco opens petrochemical complex in China by 2026

Saudi Arabia’s Aramco signed an agreement with Chinese partners on Sunday for an oil refinery and petrochemical complex in northeast China that is expected to start in 2026 to meet the country’s growing demand for fuel and chemicals.

The project will be located in Banjin, Liaoning province, and expected to cost about $10 billion, as it will be Aramco’s second largest refining and petrochemical investment in China.

Aramco explained that construction work on the complex will begin in the second quarter of this year after the project receives the required administrative approvals, while the plan was expected to be fully operational by 2026.