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Saudi Arabia inks $50bn deals at FII

Saudi Arabia inks $50bn deals at FII
The deals are distributed over various sectors, including oil, gas, and infrastructure.

Riyadh – Mubasher: Saudi Minister of Energy, Industry and Mineral Resources, and Aramco’s chairman Khalid Al-Falih has signed $50 billion contracts on the sidelines of the Future Investment Initiative (FII) conference.

The deals are distributed over various sectors, including oil, gas, and infrastructure.

State-run Saudi Aramco also signed agreements with as much as $30 billion in investments to boost the nationalisation of oil industries in the oil-rich Kingdom.

The FII conference, dubbed “Davos in the Desert”, started in Riyadh earlier on Tuesday and would continue until Thursday, 25 October.