Saudi Arabia signs 15 deals with China

31 Aug 2016

(MENAFN) Saudi Arabia signed 15 initial deals with China in sectors from energy to housing on a visit aimed at bolstering relations with a top energy customer and trade partner.

Furthermore, the visit aims to reduce the kingdom dependence on oil exports and showcase Saudi Arabia as a dynamic nation with diverse chances for global investors.

The agreements were signed in fields involving oil storage, water resources, collaboration on science and tech and cultural cooperation.

In addition, the kingdom Housing Ministry signed similar deals with S. Korea and a Saudi-South Korean consortium in March to enhance 100.000 housing units in Riyadh.

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