Saudi state petchems giant Sabic has agreed principles for cooperation with China’s Shenhua Ningxia Coal Industry Group (SNCG) and the Government of northwest China’s Ningxia province to develop a coal-to-chemicals complex.

The agreement was signed during a visit by a Saudi energy delegation to China led by Deputy Crown Prince Muhammad bin Salman. The deal is part of the Chinese government’s ‘Belt & Road’ economic initiative – Ningxia province is on the old Silk Road trade route – under which it envisages closer ties with Saudi Arabia. (CONTINUED - 331 WORDS)