Saudi Arabia Signs $ 50 Billion Oil, Gas and Infrastructure Agreements

RIYADH (Reuters) – Saudi Arabia on Tuesday signed agreements worth more than $ 50 billion in the oil, gas, infrastructure and other sectors at a conference. on investment in Riyadh, officials said.

The details were announced during the Future Investment Initiative, which was held in Riyadh against boycotts of Western political figures, international bankers and leaders provoked by the assassination of journalist Jamal Khashoggi.

Trafigura, Total (TOTF.PA), Hyundai (011760.KS), Norinco (000065.SZ), Schlumberger, Halliburton (HAL.N) and Baker Hughes (BHGE.N), said state television.

Trafigura, a Swiss-based company, has announced the signing of a partnership agreement with Modern Mining Holding Co., based in Riyadh

The multi-billion dollar company will develop an integrated complex of smelting and refining copper, zinc and lead in the mineral city of Ras Al-Khair, Trafigura said. It was part of the Kingdom's Vision 2030 to develop its mining sector and plug the "median current," he added.

Saudi Aramco said it has signed agreements with 15 international partners worth more than $ 34 billion.

The agreements include an agreement for the construction of an integrated petrochemical complex and a downstream park in the second phase of the SATORP refinery, jointly owned by the Saudi companies Aramco and Total; and investments in retail service stations also made by Aramco and Total.

Saudi Arabia's Transport Minister has signed an agreement on the second phase of the Haramain high-speed line with a Spanish consortium, the national television channel al-Ekhbariya said on its Twitter account.

Saudi officials at the conference said the total value of the announced deals exceeded $ 50 billion.