The Royal Commission for Jubail and Yanbu (RCJY) announced on Wednesday that two investment agreements worth nearly 7 billion Saudi riyals ($2 billion) have been signed with a Chinese company as part of Saudi Arabia's G20 presidency year activities.

RCJY announced via its twitter account that a 3.383 billion riyals ($902 million) agreement for an LED factory, and a 3.750 billion riyals ($1.01 billion) MOU for a polycarbonate and polyethylene factory with the Chinese firm were signed on behalf of Jubail and Yanbu Industrial Estates Services Company, a RCJY unit, and Saudi Silk Road Industrial Services, a RCJY joint venture, respectively.  

The plants would be located in Jubail Industrial City.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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