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Saudi Arabia, South Africa Co-sign MoI to Construct Refinery, Petrochemical Complex

Saudi Arabia, South Africa Co-sign MoI to Construct Refinery, Petrochemical Complex

Sunday, 20 January, 2019 - 07:30
Riyadh - Asharq Al-Awsat
President of the Republic of South Africa Cyril Ramaphosa received Saturday Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdulaziz Al-Falih and Minister of Trade and Investment Dr. Majid bin Abdullah Al-Qassabi, currently on a visit to South Africa, the Saudi Press Agency (SPA) reported.

During the reception, they conveyed to the president the greetings of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the Crown Prince and the aspirations of the Kingdom's leadership to promote partnership between the two countries to the greatest strategic levels.

A memorandum of intent (MoI) was also co-signed between the two sides to study establishment of an oil refinery and a petrochemical complex as well, in South Africa, under the supervision and cooperation of Saudi Aramco company and the South African National Oil company, in a location to be agreed upon between the two sides, later on.

The memo aims to strengthen joint cooperation between the Kingdom and South Africa in the fields of exploration, production, refining, storage, marketing, transportation and distribution of oil and gas; in addition to applying modern technologies in the oil and gas industry, according to SPA.

It also reaffirms the strength of trade, economic and diplomatic ties binding the two countries and efforts exerted to further enhance and consolidate them.

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