Rongsheng Petrochemical: Signed a cooperation framework agreement with Saudi Aramco on some issues
2024-04-22 11:36:16
On April 22, Rongsheng Petrochemical announced that the company and Saudi Aramco have actively promoted, and have reached an agreement on some matters and signed the "Cooperation Framework Agreement". The main content is that the two parties plan to sell and purchase 50% of the shares of Zhongjin Petrochemical, a wholly-owned subsidiary of Rongsheng Petrochemical, and SASREF, a wholly-owned subsidiary of Saudi Aramco, respectively, and jointly develop the expansion projects of Zhongjin Petrochemical and SASREF according to the proportion of shares. The two sides are further negotiating on other matters in the memorandum and the specific terms of the equity and expansion transactions in the "Cooperation Framework Agreement".
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