HONG KONG SAR - EQS Newswire - 12 December 2023 - On December 10, Khalid Al-Falih, Saudi Arabia's Minister of Investment, who was attending the "Future Investment Initiative" PRIORITY Summit in China, met with Minister of Industry and Information Technology, Jin Zhuanglong, and Minister of Commerce, Wang Wentao, in Beijing. He also took the time to meet with Zhu Gongshan, Chairman of GCL Group, to have an in-depth exchange and dialogue on strategic cooperation, including the implementation of the GCL's FBR granular silicon project in Saudi Arabia.

Khalid Al-Falih said that the current international community and economy are undergoing rapid changes, and the geopolitical landscape is getting complicated. How Asia, led by China, will influence and drive global development has attracted increasing global attention. At present, the international community is entering the era of carbon, digital, and AI, and new energy and digitalization will redefine globalization 2.0. The Saudi government and the Public Investment Fund (PIF) of Saudi Arabia attach great importance to cooperate with GCL in the green new energy and high-tech materials industry. Hoping that the two parties will continue to expand exchanges and cooperation, actively engage in strategic alignment, and achieve mutually beneficial development in the future.

Falih stated that GCL is a trusted strategic partner of the Saudi government, and the relevant Saudi departments will fully support GCL's investment in Saudi Arabia and accelerate the signing of a cooperation agreement between the Public Investment Fund (PIF) of Saudi Arabia and GCL in constructing the FBR granular silicon facilities in Saudi, and strive to commence construction as soon as possible and to commission at the earliest possible time. At the same time, both parties will establish a special group for the GCL's Saudi project to provide all-weather support, ensure the early implementation and production of the project, and provide more green and low-carbon energy to Saudi Arabia and the Middle East region.

Zhu Gongshan expressed that the deep advancement of China's "One Belt, One Road" initiative has brought an unique strategic opportunity for China's new energy industry in Saudi Arabia and the Middle East, highlighting the importance of global connectivity. Currently, GCL Group is accelerating its internationalization progress. GCL is willing to work together with Saudi Arabia, relying on technology, innovation, talent, and other advantages to leverage the unique advantages of GCL FBR granular silicon and other "state-of-the-art PV technologies" to achieve energy conservation and carbon reduction, and provide an inexhaustible source of silicon-based green energy, contributing to Saudi Arabia's energy transition.

Leaders from the Saudi Araba's Ministry of Investment and Lan Tianshi, Co-CEO of GCL Technology, attended the above-mentioned activities.

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