CGNPC And Saudi Arabia's AlJomaih Group Join Forces To Develop Solar Energy And Other Projects

Speaking at this collective signing ceremony of the China-Saudi Arabia Investment Memorandum of Understanding, Saudi Minister of Investment Khalid Al-Falih said that China is one of the world's leading economies and the two economies are highly complementary, with bilateral trade between China and Saudi Arabia reaching US$87.31 billion in 2021, welcoming Chinese enterprises to continue to invest and develop in Saudi Arabia and move towards a brighter future together.

Mr. Dai Honggang, Vice President of CGNIC and Chairman of Edra Power Holdings Limited, and Sheikh Ibrahim, representative of AlJomaih Group, a leading Saudi company with leading businesses in the consumer, commercial and industrial sectors, signed the framework cooperation agreement on behalf of both parties. Under the agreement, CGNIC and AlJomaih Group will jointly develop a number of solar, wind, gas and thermal power projects in the Arabian Persian Gulf region, Bangladesh, Azerbaijan and other regions in Asia, with a total contracted installed capacity of over 10 million kilowatts.