Font Size

- Aa +

Mon 11 May 2009 09:00 AM

Font Size

- Aa +

Kuwait signs five deals with China for future projects

Agreements include a $24m deal for a Kuwaiti clean-up operation of Bosten lake, Xinjiang.

Kuwait signs five deals with China for future projects
JOINT WORKING: Kuwait and China have signed agreements to work together on oil, gas and environmental projects. (Getty Images)

The Kuwait and Chinese governments signed five agreements on Sunday for projects in the oil, gas and environment sectors, as part of a push by Beijing to deepen ties with resource-rich countries.

The agreements include a deal that sees Kuwaiti financing a $24m cleanup operation of the polluted Bosten lake in China’s heavily Muslim province of Xinjiang, according to Saudi daily Saudi Gazette.

They are also thought to include a $9bn construction project for a refinery and petrochemical complex in the Gulf state, which has been the subject of intense bargaining in recent weeks between the country’s two state-run oil companies.

If signed the deal, involving Kuwait Petroleum International and Sinopec Corp, would make it the single largest ever Chinese-foreign joint-venture.

However, officials from the Chinese and Kuwaiti foreign ministries refused to provide details of the oil and gas arrangement.

The deals were presided over by Chinese President Hu Jintao and the Emir of Kuwait, Sheik Sabah Al Ahmad Al Sabah.

“We attach great importance to advancing cooperation with China in various fields, including cooperation in economy and trade and politics,” the Emir told Hu as the two began their formal talks.