11:53 GMT +319 June 2019
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    A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016.

    Russia's RDIF to Cooperate on Petrochemistry With Sibur, Saudi Aramco

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    Saudi King's Visit to Russia in October 2017 (27)
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    On Thursday, the Russian Direct Investment Fund said on Thursday it had signed a memorandum of understanding om the possible petrochemistry cooperation in Russia and Saudi Arabia with Saudi Aramco and Russia’s SIBUR.

    "The Russian Direct Investment Fund (RDIF), Saudi Aramco and SIBUR signed a Memorandum of Understanding on possible cooperation and investment activities in Russia and Saudi Arabia," the fund's press service said in a statement, emphasizing that this deal will further promote petrochemical markets in the two states and "explore opportunities for future cooperation."

    Meanwhile, the document was signed within the framework of the Saudi delegation's visit to Moscow. The delegation is led by the country's King Salman bin Abdulaziz Al Saud. This is the first visit of the reigning Saudi monarch to Russia in the history of bilateral relations.

    The King of Saudi Arabia has arrived in Moscow at the invitation of President Putin, which was accepted already back in 2007 by the late King Abdullah. However, due to the cooling in relations, particularly because of differences pertaining to the Syrian crisis,  the visit has been repeatedly postponed.

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

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    cooperation, Saudi Aramco, Sibur, Russia, Saudi Arabia
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