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Russian investors seek to build foodstuff, pipeline plants in KSA

Russian investors seek to build foodstuff, pipeline plants in KSA

A Russian delegation will visit Saudi Arabia the next days to discuss boosting the economic and technological ties between the two countries, sources said.

They added that the delegation will meet some officials in the public sector and some businessmen.

The delegation, which includes more than 11 investors representing the private sector in Moscow, aims to enter into investment and economic partnerships through establishing IT companies as well as building foodstuff and pipeline factories in Saudi Arabia, according to Al-Eqtisadiah newspaper.

The trade exchange between the two countries increased from SAR 5.669 billion in 2012 to SAR 6.491 billion in 2013. The imports reached SAR 6.34 billion, while the exports declined to SAR 143 million.