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Saudi Arabia’s Ajlan & Bros Holding Group is planning to establish several joint ventures with top Chinese companies, state-run China Daily newspaper reported.
The proposed joint ventures will be with logistics company SF International, mining major Chifeng Gold, smart pharmacy solutions provider Shanghai General Healthy Information and Technology Company and intelligent energy solutions provider CHINT.
Last week, Saudi Arabia and China had signed 35 investment agreements worth about $30 billion during Chinese President Xi Jinping’s visit to the Kingdom.
The group has partnered with more than 10 leading Chinese companies and entered into various projects with a total value of almost 60 billion yuan ($8.4 billion) in 2022, the newspaper said.
Moreover, Ajlan & Bros has signed a strategic cooperation pact with China Harbour Engineering Company to work on global projects.
The group was among the first Saudi private companies to establish business in China, starting with a textile factory in 2002 in Suzhou city.
(Writing by D Madhura; Editing by Anoop Menon)
