Saudi Aramco to spend $120bn on projects

01 February 2010

Saudi Aramco plans to invest around $120bn over the next 5-6 years in developing projects in the oil and petrochemicals sectors, the company's chief executive told Arabiya TV. The company plans to spend $60bn on the oil sector, while the remaining investement would be for the development of petrochemcial projects and foreign investments, said Khalid al-Falih. 'Over the coming five to six years the total investment for Saudi Aramco will be around $120bn,' he said. 'Funding investments for our other projects comes from joint ventures, loans and individual Saudi investors.'

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications