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Saudi to sign $50 billion in oil, gas, infrastructure deals - source

Published 23/10/2018, 08:51
Updated 23/10/2018, 09:00
© Reuters.  Saudi to sign $50 billion in oil, gas, infrastructure deals - source

RIYADH (Reuters) - Saudi Arabia plans to sign deals worth more than $50 billion (39 billion pounds) in the oil, gas, industries and infrastructure sectors at an investment conference in Riyadh on Tuesday, a source familiar with the matter said.

The deals will be signed with companies including Trafigura, Total (PA:TOTF), Hyundai (KS:011760), Norinco (SZ:000065), Schlumberger, Halliburton (N:HAL) and Baker Hughes (N:BHGE), the source said.

The deals will include the establishment of a copper, zinc and lead smelter with Trafigura Group; a joint 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 gas stations also by Aramco and Total.

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