Saudi Arabia plans to sign more than $ 50 billion in oil, gas, infrastructure and infrastructure sectors at the Future Investment Initiative conference in Riyadh on Tuesday morning, a well-informed source said.
The deal will be signed with companies including Trafigura, Total, Hyundai, Norinco, Schlumberger, Halliburton and Baker Hughes, the source said.
The deal will include the construction of a copper, zinc and lead smelter with Trafigura Group, a joint venture to build an integrated petrochemical complex, and a downstream activities area within the second phase of the Saudi Aramco and Total joint venture satorp and investments in Aramco and Total gas stations.
The deals came despite the withdrawal of a number of international economic companies from the conference under the pretext of Saudi journalist Jamal Khashoggi, who announced the Saudi authorities to open an investigation into the circumstances of his death.
The huge economic conference was opened under the patronage of the Saudi monarch, King Salman bin Abdul Aziz, and runs from October 23 to 25.
The forum will be chaired by Saudi Crown Prince, Deputy Prime Minister and Chairman of the Board of Economic Affairs and Development and Chairman of the Public Investment Fund, Prince Mohammed bin Salman.
This year, the Forum seeks to further explore trends and opportunities that will contribute to sustainable returns and positive impacts and build a network of key players in the global arena.
The initiative, in which thousands of people from around the world will participate, will highlight emerging sectors that will shape the future of the global economy in the coming decades.
The Saudi Public Investment Fund (PIF) has unveiled the Future Investment Initiative program, under a rich agenda of more than 40 sessions, open debates and workshops.
It also includes side forums focusing on three key pillars: investment in transformation, technology as a source of opportunity, and human capacity development.
More than 150 speakers representing more than 140 different institutions, as well as partnerships with 17 global institutions, will be present at the event. The program will highlight the role of investment in stimulating growth opportunities, enhancing innovation and addressing global challenges.
