China Energy inks deal with JSG for Saudi brine processing project
RIYADH, July 3, 2024
China Energy Investment Corporation has signed an investment development agreement with a consortium led by JSG Saudi Arabia for a comprehensive brine processing project in Saudi Arabia.
This project leverages green seawater desalination technology to address brine discharge pollution while meeting Saudi Arabia's daily and industrial water needs.
Announcing the strategic deal, China Energy said the project's successful approval marks a significant step in the deep co-operation between China and Saudi Arabia under the Belt and Road Initiative and Saudi Vision 2030.
Representatives from the Saudi sovereign wealth fund PIF (Public Investment Fund); top recycling investment company SIRC and Shuangliang Group witnessed the signing ceremony.
China Energy stated that it will utilise its comprehensive industrial chain advantages to expedite the project's implementation and set a new industry benchmark.
Currently, the project development has been established at the national level in Saudi Arabia, and JSG Saudi Company secures the concession to operate the project by winning the open tender, after which it signed a Joint Development Agreement with the Saline Water Conversion Corporation, it added.-TradeArabia News Service
