Saudis seek $623 billion in foreign investments

Saudi Arabia, by 2020, plans to invest $50 billion in natural gas production projects, $92 billion in petrochemical expansion projects, and $90.7 billion in electric power grids, said members of the Saudi Committee for the Development of International Trade during a trade mission to the US May 9-18.The US Departments of Commerce and Energy and the National Association of Manufacturers also backed the forums, which were scheduled in New York, Atlanta, Houston, Chicago, and San Francisco.The investments are part of an overall $623 billion package of opportunities the Saudis are calling “the largest call for foreign investment in decades.”Saudi Aramco said it is “allocating...

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