Shenzhen, China, July 24, 2026 — Skytower Group (“Skytower”) and Park China Holdings Co., Ltd. (“Park China”) today announced the signing of a strategic cooperation agreement to jointly plan, develop, and operate the China Park at Yanbu Petrochemicals Park in the Kingdom of Saudi Arabia. The collaboration aims to establish a dedicated industrial cluster and integrated business service platform for Chinese enterprises, with a strategic focus on the petrochemical, advanced materials, specialty chemicals, chemical equipment manufacturing, and related industrial value chains, further advancing trilateral industrial cooperation among China, the United States, and Saudi Arabia.
Under the agreement, the Parties will leverage Skytower’s strengths in international industrial cooperation, government engagement, cross-border investment promotion, and global resource integration, together with Park China’s expertise in industrial park development and operations, industrial investment, enterprise attraction, and business support services, to jointly develop the China Park at Yanbu Petrochemicals Park. The partnership will establish a joint investment promotion mechanism to facilitate enterprise engagement, project attraction, and investment implementation. The Parties will also jointly support the first anchor enterprise as a flagship demonstration project, creating a replicable and scalable development model for the future establishment of additional Chinese enterprises. In addition, the Parties will provide comprehensive one-stop support throughout the entire investment lifecycle, including investment advisory, policy consultation, government liaison, company incorporation, regulatory approvals and permitting, engineering and construction support, supply chain integration, talent services, and operational management, enabling Chinese enterprises to establish and expand their businesses in Saudi Arabia with greater efficiency and confidence.
Against the backdrop of accelerating global supply chain realignment, the Middle East is rapidly emerging as one of the world’s most dynamic destinations for industrial investment and advanced manufacturing. As one of the Kingdom’s premier industrial hubs on the Red Sea coast, Yanbu possesses a world-class petrochemical industry base and plays a pivotal role in advancing Saudi Arabia’s Vision 2030 industrial diversification strategy. As economic and trade cooperation between China and Saudi Arabia continues to deepen, an increasing number of Chinese enterprises are viewing the Kingdom as a strategic gateway for global expansion. By combining Skytower’s unique platform connecting industrial resources across China, the United States, and Saudi Arabia with Park China’s proven industrial park development and operational capabilities, the partnership seeks to establish an integrated platform for industrial clustering, investment promotion, enterprise services, and international collaboration, accelerating the successful establishment of high-quality manufacturing projects in Saudi Arabia while strengthening regional industrial value chains.
Neil Bush, Chairman of Skytower, said: “In today’s interconnected world, industrial value chains, capital, and innovation are moving across borders at an unprecedented pace. China possesses one of the world’s most comprehensive and competitive manufacturing ecosystems, the United States continues to lead in technological innovation, industrial capital, and global business development, and Saudi Arabia is making remarkable progress toward economic diversification and industrial modernization under Vision 2030. Skytower is committed to serving as a bridge that brings together the complementary strengths of China, the United States, and Saudi Arabia. This collaboration represents far more than the development of an industrial park—it establishes a strategic platform that connects the industrial resources of all three countries, creating new opportunities for world-class industrial projects and contributing to regional prosperity and international economic cooperation.”
Liang Chun, Chairman of Park China, stated: “The future competitiveness of industrial parks will be defined not only by physical infrastructure, but also by their ability to organize industries, integrate resources, and deliver comprehensive value-added services. Through this partnership, we will jointly develop the China Park at Yanbu Petrochemicals Park into an internationally competitive industrial platform integrating enterprise attraction, investment promotion, business support, and industrial ecosystem development. We look forward to bringing together China’s manufacturing strengths, America’s global resources, and Saudi Arabia’s tremendous development opportunities to create a new model for international industrial cooperation and provide Chinese enterprises with a more efficient pathway toward global expansion.”
Eric Fang, Chief Executive Officer of Skytower, added: “This strategic partnership marks an important step toward building a comprehensive ecosystem that supports the global expansion of Chinese enterprises. Centered on the China Park at Yanbu Petrochemicals Park, we will launch the first anchor enterprise as a flagship demonstration project and progressively establish a full-service platform covering investment promotion, enterprise attraction, project implementation, and operational management. By leveraging Skytower’s unique strengths in integrating industrial resources across China, the United States, and Saudi Arabia, we are committed to providing Chinese enterprises with efficient, professional, and end-to-end solutions that enable them to use Saudi Arabia as a strategic hub for expanding across the Middle East and into global markets.”
This strategic partnership represents another significant milestone in Skytower’s commitment to advancing international industrial cooperation while supporting China’s Going Global strategy and Saudi Arabia’s Vision 2030. Moving forward, the Parties will establish a long-term strategic cooperation mechanism, accelerate the development of the China Park at Yanbu Petrochemicals Park and the implementation of its initial flagship projects, attract more Chinese enterprises to invest and grow in Saudi Arabia, and build a leading platform for industrial cooperation connecting China, the United States, and Saudi Arabia, contributing to stronger global industrial value chains and deeper international economic collaboration.
About Skytower Group (“Skytower”)
Skytower Group is an international development and investment organization focused on foundational manufacturing sectors including renewable energy, clean energy components, downstream chemicals, advanced materials, robotics and artificial intelligence, and automotive supply chains. The company is committed to advancing global industrial collaboration and supporting the transition toward a low-carbon economy.
Founded by a team of experienced industry leaders with extensive international expertise, Skytower has significant project development and investment experience across the United States, China, and Saudi Arabia, and has long been engaged in initiatives related to global energy transition and industrial upgrading.
Skytower actively aligns with major international development strategies, including U.S. reindustrialization efforts as well as Saudi Arabia’s Vision 2030 and Net Zero 2060 objectives. The company believes that the global transition toward a low-carbon economy represents a systemic transformation that requires stronger international cooperation and industrial coordination.
About Park China
Park China is a leading industrial park investment, development, and operations platform headquartered in Hong Kong, specializing in industrial park development, industrial investment, enterprise support services, and international industrial cooperation. Through its integrated model of space operations, industrial investment, and capital empowerment, the company provides comprehensive lifecycle solutions for industrial parks and manufacturing enterprises, covering strategic planning, park development, enterprise attraction, investment promotion, business support services, and capital operations.
Leveraging extensive industrial resources, a global partnership network, and strong operational expertise, Park China invests in and operates industrial parks across multiple sectors, with a strategic focus on energy, petrochemicals, advanced materials, hydrogen, and advanced manufacturing. The company is committed to fostering internationally competitive industrial ecosystems by supporting cross-border investment, industrial clustering, technological innovation, and global industrial collaboration.
