Saudi Aramco says to sign $50 billion of deals with U.S. companiesStaff Writer | May 20, 2017
Saudi Aramco expects to sign $50 billion of deals with U.S. companies on Saturday, part of a drive to diversify the kingdom's economy beyond oil exports, Aramco's chief executive Amin Nasser said.
Trade The visit of U.S. President Donald Trump to Riyadh
He said 16 agreements with 11 companies would be signed, including memorandums of understanding for joint ventures. Officials said earlier that many of the agreements would flesh out previously announced plans.
"We expect the deals signed today to provide a boost to bilateral trade between both countries," Nasser said, adding that Aramco currently spent $6.5 billion a year on goods and services from U.S. suppliers. ■