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Pan-Asia Saudi Project Sets Sail

Click:1497 Time:2019-01-29 00:00:00

--Mark the successful groundbreaking ceremony for the Pan-Asia Saudi Petrochemical & Chemical Fiber Integrated Project on January 29

On January 29, 2019, the groundbreaking ceremony for the Pan-Asia Saudi Petrochemical & Chemical Fiber Integrated Project (the Pan-Asia Saudi Project) was successfully held at the project site in the Jazan City for Primary and Downstream Industries (JCPDI) in the Kingdom of Saudi Arabia. Mr. Guan Lingxiang, Chairman of the Board of Pan-Asia PET Resin (Guangzhou) Co., Ltd.; senior officials of China and Saudi Arabia, among whom are HE Eng. Abdulaziz A. AlAbdulkarim, Vice Minister of Energy, Industry and Mineral Resources of Saudi Arabia, HE Dr. Alaa A. Nassif, CEO of the Royal Commission at Jazan, HE Mr. Li Huaxin, Chinese Ambassador to the Kingdom of Saudi Arabia, Mr. Li Hongru, Managing Vice Mayor of Yinchuan, Mr. Olivier Thorel, Executive Director of Chemicals of Saudi Aramco, HE Mr. Sultan Mofti, Deputy Governor of the Saudi Arabian General Investment Authority and HE Dr. Ibrahim Al-Mojel, Director General of the Saudi Industrial Development Fund; entrepreneurs from around the world and representatives of partners of the Pan-Asia Saudi Project were invited to the ceremony. 


HE Dr. Alaa A. Nassif (first from left), HE Eng. Abdulaziz A. AlAbdulkarim (third from left), Chairman Guan Lingxiang (third from right), HE Mr. Li Huaxin (second from right) and Mr. Li Hongru (first from right) at the ceremony

At the ceremony, Chairman Guan Lingxiang extended the warmest welcome to senior officials of China and Saudi Arabia, entrepreneurs from around the world and representatives from partners. He also expressed the most heartfelt gratitude to all sides for their support and help since the initiation of the Pan-Asia Saudi Project. HE Eng. Abdulaziz A. AlAbdulkarim, HE Dr. Alaa A. Nassif, HE Mr. Li Huaxin, Mr. Li Hongru, Mr. Olivier Thorel, HE Mr. Sultan Mofti, HE Dr. Ibrahim Al-Mojel and Mr. John Michael Pickens, President of Performance Technology of INVISTA S.á r. l were invited to the stage to deliver speeches. They gave the sincerest congratulations to the groundbreaking of the Pan-Asia Saudi Project!    

Chinese and Saudi leaders giving speeches at the ceremony 

After the speeches, the attending Chinese and Saudi leaders gathered around the foundation stone for the Pan-Asia Saudi Project at the earnest invitation of Chairman Guan Lingxiang, surrounded by passionate music. They raised the shovels to spray soil on the stone, jointly announcing the foundation of the Pan-Asia Saudi Petrochemical & Chemical Fiber Integrated Project!    


Chairman Guan Lingxiang and senior officials of China and Saudi Arabia lay the foundation stone for the project 

Chairman Guan Lingxiang and senior officials of China and Saudi Arabia post for a group photo behind the foundation stone


HE Eng. Abdulaziz A. AlAbdulkarim presented souvenir to Chairman Guan Lingxiang

The Pan-Asia Saudi Project is an outbound investment project of Pan-Asia PET Resin (Guangzhou) Co., Ltd. as an active response to China-Saudi Arabia production capacity cooperation—established under the Belt and Road Initiative of China and Saudi Vision 2030. The project will be funded and built by Pan-Asia Saudi Company Limited—a subsidiary of Pan-Asia (Guangzhou) in Saudi Arabia. It will take a total investment of around USD3.2 billion and occupy 651,000 square meters of land. The project will be built in three successive phases upon the completion of which an integrated petrochemical and chemical fiber factory with a production capacity of 2.5mtpa of PTA, 1mtpa of PET, 200ktpa of PBT, 200ktpa of PFB and 200ktpa of PFY will be formed. The factory will generate an annual output value of up to USD4.8 billion. 

Chairman Guan Lingxiang and Mr. Lin Wencai, President of Pan-Asia PET Resin (Guangzhou) Co., Ltd., introduce the core members of the project team

As the first project realized under China-Saudi Arabia production capacity cooperation and the first wholly foreign-funded petrochemical project of Saudi Arabia, the Pan-Asia Saudi Project is listed by Saudi Arabia and the National Development and Reform Commission of the PRC as one of the 20 key national projects and a key project of China-Saudi Arabia production capacity cooperation. For over two years since 2016, preparatory work of the project has been carried out with high efficiency due to the strong support from various sides including senior officials of China and Saudi Arabia, Saudi government entities and partners of the project, as well as the persistent and rapid facilitation from the project team led by Mr. Guan Haitao, Executive Director of Pan-Asia, and Mr. Lin Wencai.            

Officials of China and Saudi Arabia post for a group photo with the project team

The successful groundbreaking of the project today is a fruitful result of the combined effect of the close cooperation between China and Saudi Arabia, the brave effort of the Pan-Asia project team and the all-out support from the partners. It is encouraging and is a source of pride! Going forward, Pan-Asia will pursue high standards and strict requirements and will give emphasis to quality and management so as to complete construction in time and deliver a satisfying answer to China-Saudi Arabia production capacity cooperation. Meanwhile, Pan-Asia will widen the scope of cooperation with the Royal Commission at Jazan, push forward cooperation in both the upstream and downstream of the industrial chain and facilitate deeper cooperation in other industries in order to make more outstanding contribution to Saudi Vision 2030 and China-Saudi Arabia production capacity cooperation!    

    

Chairman Guan Lingxiang posts for a group photo with the attending senior officials of China and Saudi Arabia at the ceremony

Links:Pan-Asia Saudi Co., Ltd. (http://www.panasia.com.sa)

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