Riyadh-Mubasher: Saudi Aramco Entrepreneurship Center (Wa'ed), a subsidiary of the world’s largest oil exporter Aramco, has recently launched 50 new projects which aim to diversify the local economy and offer more job opportunities.

Wa'ed concluded four transactions in 2011, 22 until 2013 and 53 until the first quarter of 2015.

The financing services and conclusion of deals are part of the huge number of services offered by Wa'ed, said managing director Sami Khursani.

The centre has focused on financing the information technology sector since March 2015, as well as financing the manufacturing industries.

The projects are expected to offer nearly 1,000 job opportunities.