Aramco Signs 18 Deals for Economic Projects in Turkey

On the sidelines of the World Energy Congress taking place in Istanbul until the thirteenth of this month, October 2016, Saudi Aramco signed so far 18 Memorandums of Understanding (MoUs) with Turkish companies leading in power generation, airport construction and management, petroleum, and roadways which will definitely strengthen Saudi-Turkish economic cooperation.

The signing ceremony was presided by Khalid Al-Falih, Chairman of Board of Directors of Saudi Aramco, Berat Albayrak, Minister of Energy and Natural Resources, Amin Al-Nasser, President of Saudi Aramco; and several Turkish economy leaders.

Aramco plans to invest 300 billion dollars

Amin Al-Nasser, President of Saudi Aramco, was pleased that the Memorandums of Understanding (MoUs) will help further the development of business opportunities between the two countries and attract more investments into Saudi Arabia. Moreover, these MoUs continue to underscore the commitment by Saudi Aramco towards achieving Saudi Arabia's Vision of 2030.

Amin Al-Nasser, also added that Saudi Arabia will double the percentage of locally-produced energy-related goods and services to 70% by 2021. He also declared that the company plans to invest 300 billion dollars over the coming 10 years, with a focusing on gas investments.