Saudi Arabia's production capacity cooperation project of Shenzhen Industrial New Materials has made progress

At present, with the gradual advancement of the “Belt and Road” construction in West Asia and Africa, China and Saudi Arabia's international production capacity cooperation has also taken great strides to a higher level
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Recently, the groundbreaking ceremony of the second phase of the Sino-Saudi Arabian high-tech cooperation project-ShenGong New Material Saudi Arabian Capacity Cooperation Project was held in Jubail, Saudi Arabia, and China-Saudi Arabia capacity cooperation has gone further

According to reports, the Saudi Arabian Production Capacity Cooperation Project of Shenzhen Industrial New Materials was launched in Saudi Arabia in November last year.
At present, the first phase of the project has reached the conditions for commissioning, and the second phase of the project is about to start
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The total investment of the project is 892 million US dollars.

As the main body of implementation of promoting Sino-Saudi international production capacity cooperation, Saudi Silk Road Industry Service Company will carry out strategic cooperation with Shenzhen Industrial New Materials, and fully participate in and assist the implementation of the Saudi production cooperation project of Shenzhen Industrial New Materials
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Since the start of China-Saudi Arabia International Capacity Cooperation in 2016, all parties to the China-Saudi Arabia cooperation have carried out fruitful and in-depth cooperation, and the Saudi Arabian capacity cooperation project of Shenzhen Industrial New Materials is a special project for Chinese enterprises in the two provinces of Guangdong and Ningxia, and the Saudi Jizan Industrial Park.

As another benchmark project of China-Saudi Arabia’s international capacity cooperation, the Saudi Arabian Production Capacity Cooperation Project of Shenzhen Industrial New Materials will play a good demonstration role in the development of Saudi Arabia’s non-oil industry, and it will also effectively promote the development speed of local enterprises and surrounding enterprises, and help The regional economy has achieved high-quality development
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At the same time, the Saudi Arabian Production Capacity Cooperation Project of Shenzhen Industrial New Materials is also a demonstration project of domestic and international dual-cycle development