Oil and gas, renewables, storage and environmental industries
China has inaugurated a direct maritime cargo route connecting Jiangsu province's Port of Taicang with Saudi Arabia's Jeddah Islamic Port. The dedicated service bypasses intermediate transshipment hubs, saving two to three weeks of transit time. Bilateral trade between the two countries reached $108.2 billion in 2025, alongside significant crude oil shipments.
A joint venture between China's Sinohydro and Egypt's Elsewedy Electric has secured a $2.2 billion EPC contract for a 2.3-gigawatt gas-fired power plant in Saudi Arabia. The Rabigh 2 IPP expansion facility is backed by ACWA Power and Saudi Energy, with commercial operations planned for May 2029. Financing includes $2.58 billion in long-term debt backed by 14 lenders, including the Industrial and Commercial Bank of China.
Chinese manufacturer Dalipal Holdings has signed a 25-year land lease with King Salman Energy Park in Saudi Arabia. The company plans an overall investment ambition of approximately $2.1 billion to build a smart manufacturing facility for energy equipment. The site will produce seamless steel pipes, oil country tubular goods, and hydrogen transmission pipelines.
Saudi Arabian Refineries Company announced that its one-year non-binding memorandum of understanding with UAE-based Go Energy has expired without reaching a definitive agreement. The company stated that the expiration involves no financial obligations or impact on its financial results. SARCO continues to hold a separate hydrogen cooperation agreement signed in May with China's Ally Hydrogen Energy.
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