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KSA seeks to bolster its ties with China

: Tuesday, August 12 - 2014 @ 09:02

Waleed Hussein Abu Al-Faraj, Vice President of the King Abdullah City for Atomic and Renewable Energy has signed an agreement with Hwan Min Gang, chief financial officer of the Chinese National Nuclear Corporation to boost nuclear and renewable energy cooperation between Saudi Arabia and China in the Chinese capital Beijing. Kingdom seeks to reduce its dependence on hydrocarbons and bolster its ties with the world’s second-biggest economy. Speaking to Asharq Al-Awsat via the telephone from Beijing, Chinese ambassador to Saudi Arabia Li Chengwen said: “The numerous recent MoUs signed between the two countries are the result of the visit by Saudi Crown Prince Salman Bin Abdulaziz to our country at the beginning of this year.” Li added that the visit had resulted in several companies being set in up in China specifically to invest in the Kingdom. He also pointed out that a number of “mega projects” between the two countries were currently on the cards in a number of areas including infrastructure, aerospace, and satellites.

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Tuesday, August 12- 2014 @ 9:02 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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