The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and President Xi Jinping of the People's Republic of China inaugurated here yesterday the project of Yanbu Aramco Sinopec Refining Company (YASREF).
Upon arrival at the venue, the Chinese president was received by the Custodian of the Two Holy Mosques.
He was also received by Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region; Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defense; Prince Saud bin Abdullah bin Thinayyan, President of the Royal Commission for Jubail and Yanbu, and a number officials.
The attendees watched a video on Yanbu Aramco Sinopec Refining Company Project (YASREF).
Addressing the gathering, Eng. Khalid Al-Faleh, Director of the Board of Saudi Aramco, described the event of opening the project as historical and unique as it would add a new edifice to the partnership between the Kingdom and China.
He recalled that the project attracted the region's largest economy and the world's second largest. He expressed pride that Aramco is China's first supplier of oil.
Al-Faleh said Aramco has first invested in Fujian refinery in China, an ideal project in all terms while the two parties are today dedicating a new venture in Yanbu, a project that has created 6,000 job direct and indirect opportunities.
He disclosed that the working team of the project won Plats international prize as the best project in 2015, noting the unlimited support of the Minister of Petroleum and Mineral Resources Ali Al-Naimi and Prince Saud bin Abdullah Al-Thinayan, President of the Royal Commission for Jubail and Yanbu.
He pointed that there is a good chance to create a qualitative leap in all aspects of cooperation in the field of energy, citing three areas: first: the development of economically feasible and sustainable investments in the field of refining and marketing, thus supporting China's strategy to achieve supplies security and doubling of Saudi petroleum to China, second: is based on building of partnerships between the two countries within the silk road economic zone initiative launched by the Chinese President Xi Jinping making the Kingdom a basic core of this initiative, and the third: focused on supporting the joint cooperation between the two countries in the fields of research, education, knowledge technology, innovation and cultural activities, noting that Aramco has opened a research center in Beijing while Sinopec lays tomorrow the foundation stone of a research and development center in Dhahran.
He pointed that the cooperation memoranda of understanding which were signed yesterday between the two countries' governments, build on those initiatives and embody the keenness of the two leaderships to push their partnership to higher levels, extending the most sincerest thanks to the Custodian of the To Holy Mosques and the Chinese President for honoring the opening of this industrial edifice.
Then the Custodian of the To Holy Mosques and the Chinese President watched a live transmission from the central control room of the project in Yanbu and co-dedicated it.
Then the Custodian of the Two Holy Mosques bade farewell to the Chinese President.
The dedication ceremony was attended by Prince Mishaal bin Saud bin Abdulaziz; Prince Naif bin Saud bin Abdulaziz; Prince Dr. Abdulrahman bin Saud Al-Kabeer; Prince Dr. Mansour bin Miteb bin Abdullah, Minister of State and Member of the Cabinet and Advisor to the Custodian of the Two Holy Mosques; Prince Miteb bin Abdullah bin Abdulaziz, Minister of National Guard; Prince Dr. Turki bin Saud bin Mohammed, President of King Abdulaziz City for Science and Technology; Prince Yousef bin Saud bin Abdulaziz; Prince Ahmed bin Abdullah bin Abdulrahman, Governor of Al-Dareya Province; Prince Mohammed bin Abdulrahman bin Abdulaziz; Prince Ahmed bin Fahd bin Salman bin Abdulaziz; Prince Abdullah bin Bandar bin Abdulaziz, ministers and senior officials in charge of oil affairs.