Saudi to sign deals worth $50 billion in oil, gas and infrastructure

RIYADH (Reuters) – Saudi Arabia started signing deals worth more than $50 billion in sectors including oil, gas and infrastructure at an investment conference in Riyadh on Tuesday.

Companies involved in the deals included Trafigura, Total (PA:), Hyundai (KS:), Norinco (SZ:), Schlumberger, Halliburton (N:) and Baker Hughes (N:), state television said.

The deals include the establishment of a , zinc and lead smelter with Trafigura Group; an agreement to build an integrated petrochemical complex and downstream park in the second phase of the SATORP refinery, jointly held by Saudi Arabia’s Aramco and Total; and investments in retail petrol stations also by Aramco and Total, a source familiar with the matter said.

Saudi Arabia’s transport minister signed a deal for the second phase of the Haramain high-speed railway with a Spanish consortium, state television al-Ekhbariya said on its twitter account.

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