Saudi energy minister Khalid Al-Falih has signed an agreement with China’s Pan-Asia Co. to build a petrochemicals complex in Jizan, within the National Industrial Development and Logistics Program (NIDLP).

 

The announcement came during day one of the Future Investment Initiative (FII) summit in Riyadh, being held from Oct. 23-25 2018.

 

A memorandum of understanding was also sealed between Swiss-based Trafigura and Riyadh-based Modern Mining Holding Co. for a joint venture partnership.

 

The multi-billion dollar venture would develop a copper, zinc and lead integrated smelting and refining complex in Ras Al-Khair Mineral City, as part of the Kingdom’s Vision 2030 to develop its mining sector.

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