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SABIC to Invest in Rongsheng's $10B Advanced Materials Venture in Saudi

Summary by Digital Phablet
Saudi Aramco’s chemicals division, Saudi Basic Industries Corporation, is set to acquire up to a 50 percent stake in an advanced materials project owned by Chinese private petrochemical company Rongsheng Petrochemical in Zhoushan. A partnership agreement has been signed between the two companies to jointly develop the Jintang New Materials Project located in eastern China’s Zhejiang province. Details regarding the investment share, transaction s…
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Digital Phablet broke the news on Friday, July 17, 2026.
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