On June 30th, Party Secretary and Chairman of the Board, Zhou Tiejun, was invited to the signing ceremony of Phase III MGS (Master Gas System) Pipeline Project Portfolio at Saudi Aramco's headquarters in Dhahran. This significant milestone signifies a deeper collaboration between the company and Saudi Aramco in energy infrastructure development, marking the beginning of a new phase of growth together. Saudi Energy Minister Prince Abdulaziz bin Salman, and Amin Nasser, President and CEO of Saudi Aramco attended the signing ceremony.
During the ceremony, Abdulaziz bin Salman announced that the Phase III MGS Pipeline Project Portfolio, which will connect 40 related facilities including power plants, water treatment facilities, and petrochemical plants, is expected to stimulate Saudi Arabia's economic growth by approximately $20 billion.
In the presence of Abdulaziz bin Salman, SEPCO was awarded the contract as the preferred turnkey contractor by Saudi Aramco. Zhou Tiejun stated that the award of Phase III of the MGS gas booster station project demonstrates Saudi Aramco's strong confidence in and high appreciation for SEPCO Electric Power Construction Corporation's exceptional fulfillment capabilities. SEPCO is committed to completing the project on schedule with high standards, excellent quality, and efficiency for the purpose of establishing it as a benchmark for high-quality collaborative efforts under "the Belt and Road" initiative, thereby enhancing the mutually beneficial cooperation and the traditional friendship between China and Arab nations.
The representative from Saudi Aramco spoke highly of the performance and team capabilities of SEPCO, and stated that as an internationally recognized EPC turnkey contractor, SEPCO's extensive fulfillment experienceaccumulated from Aramco projects and its professional technical expertise make it an ideal partner for the Phase III MGS Pipeline Project Portfolio. He expressed confidence that, with the joint efforts of both parties, the construction of Phase III MGS Pipeline Project Portfolio will be successfully completed.
The Saudi Aramco Phase III MGS Pipeline Project Portfolio represents the third stage in the development of the company's commercial natural gas pipeline project. Its goal is to transport natural gas from eastern fields to the central and western seaboards in Saudi Arabia, meeting the needs of the rapidly expanding national economy. The Phase III Project of MGS Gas Booster Station, a crucial component of the Phase III MGS Pipeline Project Portfolio undertaken by our company, will substantially improve Saudi Arabia's natural gas processing and distribution capabilities. This undertaking is of critical importance for enhancing energy supply efficiency and securing the nation's energy resources. The MGS Phase IV Project is currently in the planning stage.
Yehia Abu Schal, Vice President of Aramco, Xu Dengfeng, Deputy General Manager of SEPCO, and the head of the POWERCHINA International Group Limited participated in the celebration.
