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Jeddah, Saudi Arabia CNN —In the distant past, Muslim pilgrims came to the holy city of Mecca on foot. Haramain means “two sanctuaries” in Arabic, named for the holy cities of Mecca and Medina that sit on the line’s opposite ends. Business class passengers on the train can watch seat-back TVs. Even on a short journey like the one from Jeddah to KAEC, business class passengers are entitled to a full meal service. When it comes to high-speed railway, it seems as though the Haramain line is only the beginning in Saudi Arabia.
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Factbox: Saudi-China energy, trade and investment ties
  + stars: | 2022-12-06 | by ( ) www.reuters.com   time to read: +4 min
Below are some details about oil, trade and security relations between China and Saudi Arabia. OIL TRADEChina is Saudi Arabia's largest trading partner, with bilateral trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reached $30.3 billion, while China's imports from the kingdom totalled $57 billion. REFINERIESAramco in early 2022 made a final investment decision to build a $10 billion refinery, petrochemical complex in northeast China, marking its single largest investment in China. Named Huajin Aramco Petrochemical Company, the joint venture groups Aramco, Huajin Chemical Industries Group Corporation (000059.SZ) -- a unit of defence conglomerate Norinco-- and Panjin Xincheng Industrial Group.
“Money talks,” Michael Maduell, president of the Sovereign Wealth Fund Institute in Las Vegas, told CNN. Saudi Arabia’s de facto ruler, Crown Prince Mohammed bin Salman, last week announced that the nation’s wealth fund, the Public Investment Fund (PIF), is establishing five regional companies worth $24 billion across the Middle East. One of the key regional investment destinations for both Abu Dhabi and Riyadh has been Egypt. Once a regional rival, Turkey is now an economic ally of Saudi Arabia and the UAE. Despite a political thaw, Gulf investments in Iran and Syria are unlikely for the time being, say analysts.
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