Riyadh - Mubasher: The CEO of Saudi Aramco, Amin Nasser, said on Sunday that his company is ready to double its investments in China, especially in the fields of oil refinery, processing, and marketing.

The Saudi 2030 vision and the Chinese One Belt, One Road economic initiative could present huge opportunities for companies in both countries, Nasser added in his speech at the China Development Forum (CDF) 2017 in Beijing.

The CEO also said that Aramco is motivated regarding its crude oil to chemicals initiative, as it targets converting crude directly into petrochemicals, without the refining step.

Nasser also signed two memorandums of understanding (MoU), namely Norinco and Aerosun.

The MoU with Norinco aims at strengthening strategic cooperation and reviewing investment opportunities in China, while the agreement with Aerosun considers exploring the opportunities in research and development and manufacturing reinforced thermoplastic pipes.