Finance Associated Press September 25th (Editor Qi Ling) On September 24th, CNBM and Saudi Aramco signed a five-year cooperation framework agreement, sharing opportunities and seeking development in the field of advanced materials and industrial development.

The two parties have reached consensus on several potential areas of cooperation, such as plans to establish production bases in Saudi Arabia to produce advanced non-metallic materials, low-carbon building materials, and develop energy storage solutions. In addition, they will establish a new training, inspection, and certification center, and plan to jointly build a joint technology research and development center and laboratory to promote technological innovation together.

Chairman of CNBM, Zhou Yuxian, and President and CEO of Saudi Aramco, Amin Nasser, attended the ceremony and witnessed the signing. Assistant General Manager of CNBM, Zhi Xiao, and Senior Vice President of Saudi Aramco, Khalid Katany, signed the agreement on behalf of both parties. Chief Operating Officer of CNBM and Chairman of Triumph Science & Technology, Yin Zibo, Chairman of Sinoma Energy Conservation, Meng Qinglin, and Chairman of Sinoma International, Yin Zhisong, as well as others from the Strategy Development Department (International Cooperation Department) of CNBM attended the signing ceremony.

Triumph Science & Technology, Sinoma Energy Conservation, and Sinoma International are all listed subsidiaries under CNBM. Triumph Science & Technology's main business is flexible glass and new materials, Sinoma Energy Conservation is responsible for energy-saving and environmentally friendly engineering, equipment manufacturing, and energy-saving building materials, while Sinoma International's main business is cement technology equipment and engineering, making it one of the world's largest cement engineering system integration service providers.

Chairman of CNBM, Zhou Yuxian, stated that the strategic cooperation agreement embodies the respective strengths of CNBM and Saudi Aramco, aiming for win-win cooperation. CNBM is committed to promoting the green and low-carbon transformation and development of the building materials industry. This cooperation will leverage our advantages in the field of non-metallic materials for overall low-carbon solutions and support the transformation and development of Saudi Aramco. The cooperation agreement also looks forward to extensive cooperation prospects between the two parties, actively contributing to green and low-carbon development, further promoting friendly relations between China and Saudi Arabia.

Vice President of Technical Services of Saudi Aramco, Wael Jafali, stated that Saudi Aramco eagerly looks forward to deepening cooperation with CNBM to achieve significant breakthroughs in the field of materials science, which are expected to bring tangible benefits to the construction industry and other related industries. Both parties will focus on researching and developing technological solutions to reduce carbon emissions in the construction industry, as well as innovative technologies to improve product quality and performance, driving the transformation and upgrading of the materials sector.

He said that leveraging Saudi Aramco's expertise in the non-metallic materials field and CNBM's industry wisdom, seizing the pulse of the times, seeking new business opportunities within Saudi Arabia, and further promoting the development of materials science and manufacturing capabilities.

This collaboration follows the establishment of the Non-Metallic Building Materials Excellence Innovation Center jointly by CNBM's China Building Materials Institute and Saudi Aramco in 2021, marking another cooperation between the two parties.