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    Saudi Arabian city view with the 'Kingdom Tower', background, and 'Al-Faislia Tower' in Riyadh, Saudi Arabia

    Moscow, Riyadh Expected to Strike Deal on Construction of Plant in Saudi Arabia

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    Saudi King's Visit to Russia in October 2017 (27)
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    Moscow and Riyadh will sign a number of investment deals, including a $1.1 agreement on construction of a plant in Saudi Arabia by Russia's Sibur, during the historic official visit to Russia by Saudi King Salman on October 4-7, Russian Energy Minister Alexander Novak said in an interview with The Financial Times.

    MOSCOW (Sputnik) — According to the text of the interview, Russia and Saudi Arabia will create a $1-billion fund to invest in energy projects, alongside a deal to invest $150 million in Russia’s Eurasia Drilling Company and a $1.1-billion agreement for Russian petrochemical company Sibur to build a plant in Saudi Arabia.

    FT also cited Novak as saying that Russia's Novatek gas producer was in talks on the participation of Saudi investors in its Arctic LNG-2 project, the company's second large-scale LNG project located offshore near the remote Gydan peninsula in northern West Siberia.

    King Salman of Saudi Arabia arrived in Russia on Wednesday on a first visit by a reigning Saudi monarch in the history of bilateral relations, a Sputnik correspondent reports from Moscow's Vnukovo airport.

    King Salman will meet Russian President Vladimir Putin on October 5 to discuss a number of issues, including the stabilization of the situation in the Middle East. A Russian-Saudi investment forum will be held before the meeting of the two states' leaders, with more than 200 Russian and Saudi companies expected to attend the event.

    Russian Prime Minister Dmitry Medvedev will also meet with King Salman on October 6 to discuss joint investment projects.

    Topic:
    Saudi King's Visit to Russia in October 2017 (27)

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    Construction, agreement, deal, plant, Saudi Arabia, Russia
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