Saudi Arabia

Industry News

SABIC Backs Rongsheng in 67.5 Billion Yuan Zhoushan Petrochemical Project

China's Rongsheng Group is advancing a 67.5 billion yuan new materials petrochemical complex on Jintang Island in Zhoushan with strategic capital from Saudi Arabia's SABIC. The project targets high value-added downstream chemical products including performance resins and specialty polyesters. The collaboration establishes an integrated cross-border supply chain combining Gulf energy resources with Chinese engineering and manufacturing.

China–UAE News

Gulf Sovereign Wealth Funds Allocate 10 Percent Deployed Capital to China

A research report by Modern Diplomacy indicates that Gulf sovereign wealth funds deployed 10 percent of their 2026 capital into China and Hong Kong, compared to 45 percent directed toward the United States. Institutional investors including Abu Dhabi's Mubadala, Saudi Arabia's PIF, and the Qatar Investment Authority continue targeted exposure in Chinese technology, electric vehicles, and renewable energy sectors. The funds are balancing long-term Asian partnerships against global macroeconomic variables and tightening technology investment regulations.

Industry News

UAE to Lead Sugarcane Bio-Based Tubes Market Expansion to USD 454.5 Million

The global sugarcane bio-based tubes market is projected to reach USD 454.5 million by 2036, expanding from USD 266.1 million in 2026 according to Future Market Insights. The UAE is forecast to lead country-level growth at a 6.8% compound annual growth rate, driven by premium beauty retail and travel retail. Market demand is shifting toward hybrid designs combining bio-based sleeves with post-consumer recycled closures.

Industry News

China’s CPECC Emerges as Frontrunner for Saudi Aramco Jafurah Gas Expansion Contract

Saudi Aramco is nearing the award of an EPC contract for the fifth phase of the Jafurah unconventional shale gas expansion. China Petroleum Engineering & Construction Corporation has emerged as the leading contender for the package. The phase includes building three gas compression stations, each with a daily capacity of 200 million cubic feet.