Saudi Aramco signs 6 MoUs with international firms

Oil giant Saudi Aramco announced today, Nov. 30, the signing of memoranda of understanding (MoUs) with Royal Dutch Shell & AMG Recycling BV (AMG) from the Netherlands; Chinese firms Suzhou XDM, Shen Gong, Xinfoo and SUPCON; and Posco from South Korea.

The signing comes within the framework of expansion, which includes plans for new international partnerships and the establishing of companies through an Industrial Investment Program (IIP), which is linked to the development of Aramco's business, it said in a statement.

The MoUs are as follows:

POSCO – an agreement to collaborate on evaluating the feasibility of constructing an integrated steel plate manufacturing plant in Saudi Arabia.

Suzhou XDM 3D Printing Company Ltd – an agreement to collaborate on industrial 3D printing technologies and development in Saudi Arabia.

SHEN GONG New Materials (Guang Zhou) Co. Ltd – an agreement to focus on developing control systems technologies for LED lighting, energy management and intelligent control.

XINFOO Sensor Technology Co. Ltd. – an agreement to explore opportunities in chip manufacturing and related technologies.

Shell & AMG Recycling B.V. – an agreement to explore collaboration to develop plans for a state-of-the-art regional hub for the recycling of gasification ash and reclamation of spent catalyst, in addition to providing sustainable solutions.

Zhejiang SUPCON Technology Co., Ltd – an agreement to explore potential joint investment opportunities in Saudi Arabia for the services and manufacturing value chain.

These strategic collaborations pave the way for the launch of new businesses across multiple innovative growth sectors, including steel plate manufacturing, industrial 3D printing, digital equipment manufacturing, energy management and control, catalyst manufacturing and recycling, and advanced chip and smart sensor manufacturing.