The Fujian Gulei Refining-Petrochemical Project as a Catalyst for Sino-Saudi Energy Cooperation
The second phase of the Fujian Gulei Refining and Petrochemical Complex, launched on November 18, 2024, represents a landmark RMB 71.1 billion ($9.7 billion) investment and the largest industrial project in Fujian Province. Jointly developed by Sinopec, Saudi Aramco, and Fujian Petrochemical Co. Ltd., the facility underscores the growing synergy between China and Saudi Arabia in the energy sector.
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Transformative Scale and Strategic Goals
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Mohammed Y. Al Qahtani, Saudi Aramco's Downstream President, remarked.
The project integrates advanced technologies across 30 refining and petrochemical units, including an annual capacity of 16 million tons of oil refining, 1.5 million tons of ethylene, and 2 million tons of paraxylene. These outputs will strengthen Fujian's industrial base, addressing raw material supply gaps and supporting downstream production. The facility is expected to generate an annual production value of RMB 80.8 billion.
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Boosting Economic Integration and Sustainability
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Wang Lining, an analyst at CNPC, noted.
Set to begin operations by 2030, the project will anchor regional development through job creation, supply chain enhancements, and cross-strait collaboration with Taiwan-based investors. The integration of five nationally encouraged innovations reduces energy use and promotes green development, setting a benchmark for sustainable industrial clusters.
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A Model for International Cooperation
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This partnership highlights the strategic alignment of Saudi Vision 2030 and China's industrial ambitions. As the largest Middle Eastern trading partner of China, Saudi Arabia continues to play a pivotal role in ensuring energy stability, with bilateral trade reaching $107.23 billion in 2023.
Sinopec Chairman Ma Yongsheng praised the collaboration as “a testament to complementary strengths,” emphasizing the project's role in advancing green, efficient production and long-term economic resilience.
As construction progresses, the Fujian Gulei project stands as a symbol of Sino-Saudi cooperation, driving innovation, sustainability, and economic growth in the energy sector.
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