Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Saudi Arabian Industrial Investments Company (SAIIC) – established in 2014 by Saudi Arabia’s Public Investment Fund (PIF, 50%), Saudi Aramco (25%) and petchems firm Sabic (25%) to advance industrialization in Saudi Arabia – has signed a memorandum of understanding with US industrial giant General Electric to develop and localize industrial value chains in Saudi Arabia.
SAIIC and GE say they will roll out joint investments of $1bn (SR3.75bn) by 2017 in addition to an aggregate potential investment of $2bn (SR7.5bn) to “drive projects in water, energy, aviation, digital and other sectors from 2017.” As part of the program, GE will be working with a range of companies on eight new initiatives to bring new capabilities to the kingdom (see table).
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE