US Conglomerate General electric says it has signed agreements and memorandums of understanding worth fifteen billion U.S. Dollars with Saudi Arabia during President Donald Trump’s visit to Saudi Arabia.
The agreements were inked in the presence of King Salman and U.S. President Donald Trump, who has chosen Saudi Arabia for his first foreign trip since taking office in January.
Collaboration between general electric and the ministry of energy, industry and mineral resources, as well as the national industrial cluster development program, “is expected to exceed twelve billion U.S. Dollars. This includes building an additional capacity to generate up to twelve Giga watts of power.
The G.E. Also signed an MOU with oil giant Saudi Aramco “to undertake a digital transformation of Aramco’s operations.
The MOU aims to generate four billion U.S. Dollars in annual productivity improvement.