Riyadh – Mubasher: Chinese defense conglomerate China North Industries Group Corp (Norinco) has signed a framework agreement with Saudi Aramco to build a refinery and chemicals complex in northeast China, Reuters reported on Tuesday.

The planned projects include a refinery with a daily capacity of 300,000 barrels and an ethylene complex with an annual capacity of 1 million tonnes with an estimated cost of $10.09 billion, source told the agency.

The investment would boost Aramco's presence in China's massive refining industry, Reuters said.