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FINANCIAL NEWS
Saudi Aramco invests USD 400mn for Ras Al-Khair facility
02 Jun 2016
(MENAFN) Saudi Aramco signed a deal with GE and Cividale SpA of Italy to build the Middle East and N. Africa’s manufacturing facility.
Moreover, making a mutual investment of more than USD 400mn, which will be located in Ras Al-Khair, aims to establish a supply chain that boosts exports.
In addition, the plant will make 2,000 quality jobs in the Kingdom and catalyze the growth of Saudi small and medium enterprises (SMEs).
The deal follows a partnership between Saudi Aramco and Cividale in order to conduct feasibility studies for forging and casting manufacturing services.
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