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Huge investments and deals: memoranda of cooperation signed between China and Saudi Arabia

Beijing, 17 Jumada II 1438 AH corresponding to March 16, 2017 AD

Saudi Arabia and China signed memoranda of understanding, cooperation, and programs between the governments of the two countries, on top of which was oil cooperation and investment.

This came during a meeting attended by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud – may Allah protects him – and Chinese President Xi Jinping in the Great Hall of the People in the capital, Beijing.

The signed notes included a Memorandum of Understanding for a general framework for industrial investment opportunities and infrastructure, and another on financing and establishing container terminals and infrastructure for the multiple logistics services center in Industrial Yanbu.

A strategic cooperation agreement was also signed to invest in multiple projects, in addition to signing a partnership agreement to manufacture unmanned aerial vehicles, in addition to an agreement to conduct a feasibility study for gas-cooled high-temperature nuclear reactor projects in the Kingdom, and a memorandum of understanding for cooperation in the field of Uranium and Thorium deposits.