Saudi Aramco Spent 24.6 Billion Yuan on Acquiring a 10% Stake in Rongsheng Petrochemical

On March 27th, Rongsheng Petrochemical reached strategic cooperation with Saudi Aramco, one of the world's leading integrated energy and chemical companies, and signed several agreements, including Saudi Aramco acquisition agreement to acquire 10% of Rongsheng Petrochemical for RMB 24.6 billion, as well as business cooperation framework agreements on raw materials, refined oil, chemical products, crude oil storage, and technology sharing.