More than a dozen major deals in Saudi Arabia's industrial and transport sectors have been announced on the first day of the ongoing Future Investment Initiative (FII) in Riyadh.

The combined agreements account for the majority of the expected $50bn foreign direct investments (FDI) expected to be announced during the three-day conference.

The major deals, including the investors (in brackets), are for:

• A copper, zinc and lead smelter in Ras al-Khair (Trafigura, Netherlands)
• An undesignated petrochemical complex (Pan-Asia, China)
• The second phase of Haramain High-Speed Railway  (Spanish consortium)
• The second phase of the Satorp integrated petrochemical complex (Total, France)
• A Petro Rabigh refinery (Sumitomo, Japan)
• A Hyundai refinery at Ras Al-Khair's King Salman International Maritime Complex (Hyundai Heavy Industries, South Korea)
• The Saudi Landbridge (China Civil Engineering Construction Corporation, China)
• Manufacturing of rail freight cars in the kingdom (Greenbrier, US)
• Refining, processing, marketing of minerals (Norinco Group, China)
• A gasification and power project in Jizan (Acwa Power, local / Air Products and Chemicals, US)

Other agreements for the development of Saudi Arabia’s downstream industry were announced.

They include an agreement to develop an oil field chemicals plant (Halliburton), rubber plant, and advanced polycarbonates and batteries.

Saudi Aramco also signed nine agreements with mostly US-based firms for energy supply chain localisation and manufacturing, including for:

• Investment in oilfield services, equipment and technologies (Baker Hughes, US)
• Drilling equipment and installation (Schlumberger, US)
• Oilfield essential supplies (Oilfield Supplies Centre, UAE)
• A reinforced thermoplastics pipe facility (FlexSteel, US)
• Oilfield technologies and facilities (Halliburton, US)
• Engineering, construction and installation of submerged areas (National Petroleum Construction Company, UAE)
• Iron engineering localisation (SEAH Chengwan Speciality Steel, China)
• Manufacture of onshore drilling (National Oilwell Varco, US)
• Collaboration and intent to invest in drilling chemicals facility (Gumpro Drilling, India)

The deals were signed by Saudi dignitaries including the Minister of Transport Nabeel al-Amudi, Saudi Aramco CEO Amin Nasser and Petro Rabigh CEO Nasser Damsheq al-Mahasher.