Last month, Saudi Aramco signed a long-term deal with the Zhejiang project's operator Zhejiang Rongsheng to supply crude oil. : State oil giant Saudi Aramco signed an agreement on Thursday to invest in a refinery-petrochemical project in eastern China, part of its strategy to expand in downstream operations globally. Zhejiang Petrochemical, 51 per cent owned by textile giant Zhejiang Rongsheng Holding Group, is building a 400,000-barrels-per-day refinery and associated petrochemical facilities that were expected to start operations by the end of this year.