May 16, 2017 / 10:31 AM / 3 months ago

China's Norinco, Saudi Aramco in framework deal to build oil refinery

BEIJING, May 16 (Reuters) - Chinese defense conglomerate China North Industries Group Corp (Norinco) signed a framework agreement with state-run oil company Saudi Aramco to build a refinery and chemical complex in northeast China, industry and government officials said on Tuesday.

The planned projects, including a 300,000 barrels per day refinery and a 1 million tonnes-per-year ethylene complex, were estimated to cost 69.5 billion yuan ($10.09 billion), according to one industry official with knowledge of the agreement.

The framework pact follows a memorandum of understanding the two companies signed in March. (Reporting by Chen Aizhu; Editing by Christian Schmollinger)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below