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The joint deal aims to explore new opportunities in advanced materials and industrial development
Riyadh – Saudi Arabian Oil Company (Aramco) has signed a five-year cooperation framework agreement (CFA) with the China National Building Material Group Company Limited (CNBM).
The joint deal aims to explore new opportunities in advanced materials and industrial development, according to a recent press release.
The two parties have agreed on potential collaboration, including the establishment of manufacturing facilities in the Kingdom to produce wind turbine blades, hydrogen storage tanks, lower-carbon building materials, and energy storage solutions.
Other areas of focus included the development of a new centre for training as well as a proposed joint technology development centre and laboratory to boost innovation.
Wail Al Jaafari, Aramco EVP of Technical Services, said: “From developing solutions that could reduce construction emissions to innovations that enhance product performance, our goal is to help drive the materials transition.”
“By combining Aramco’s expertise in nonmetallic materials and CNBM’s industry know-how, we aim to identify groundbreaking advances and new business opportunities, as well as promote further development of manufacturing capabilities within the Kingdom of Saudi Arabia,” Al Jaafari highlighted.
Zhou Yuxian, Chairman of CNBM, noted: “By leveraging our work in low-carbon integrated solutions, CNBM aims to complement Aramco’s efforts to advance the materials transition.”
He added: “This agreement envisages a wide range of cooperation that has potential to positively contribute to low-carbon development while supporting further strategic alignment between China and the Kingdom of Saudi Arabia.”
This CFA follows the 2021 launch of the Nonmetallic Excellence and Innovation Center for Building Materials (NEXCEL) in Beijing, which was developed by Aramco and the China Building Materials Academy (CBMA), the science and technology branch of CNBM.
Earlier this month, the Saudi oil giant inked agreements with key Chinese partners to back China’s participation in the Kingdom’s economic growth. |
