Wednesday , 13 December 2017
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Saudi, Russia to sign deals worth over $3bln during King Salman’s Moscow visit

Saudi Arabia’s King Salman (L) speaks with Russian Deputy Prime Minister Dmitry Rogozin (R) during a welcoming ceremony upon his arrival at Vnukovo airport outside Moscow, Russia October 4, 2017. REUTERS/Sergei Karpukhin

Russia and Saudi Arabia will sign joint investment agreements worth more than $3 billion during a visit to Moscow by Saudi Arabia’s King Salman, Russian Energy Minister Alexander Novak was quoted as saying on Wednesday.

The deals will include a $1.1 billion agreement for Russian petrochemical firm Sibur to build a plant in Saudi Arabia, the energy ministry cited Novak as saying in an interview with the Financial Times newspaper.

A joint Russian and Saudi fund will invest $150 million in Russian private oilfield services firm Eurasia Drilling Company Limited, the ministry quoted Novak as saying.

About Marc Mcilhone

Marc Mcilhone is ArabBrains’ Editor – sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives.
Please email press releases and news to: editor@arabbrains.com

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