(Yicai Global) Feb. 8 -- Anhui Ankai Automobile Co. will export buses to the largest transport company in Saudi Arabia with a total contract value of nearly USD31 million. The deal signals more Chinese companies step into the oil-rich Middle Eastern country's non-energy market.
Ankai signed a sales contract with Hafil Transport Co. on Feb. 6, the firm said in a statement yesterday. Under the deal, the Anhui-based automotive company will sell Ankai brand buses to the Saudi counterpart and the delivery will be made to the Jeddah Port in Saudi Arabia by June 7. However, the statement gave no further details as to the number of the buses involved in the contract.
Hafil Transport is the largest transport company in Saudi Arabia and owns thousands of buses operating in transport for pilgrimage and schools. The company has good payment credit and strong contract performance ability, the statement added.
Trade relations between China and Saudi Arabia have deepened over the past few years. Both sides signed 14 deals during Saudi King Salman bin Abdulaziz al-Saud's state visit to China last March. China became Saudi Arabia's largest trading partner in 2015, and Saudi Arabia is China's biggest crude oil supplier and largest trading partner in western part of the Asian continent for years. The two sides agreed during the visit to expand cooperation into other areas, including transport.