US and Saudi Arabia sign deals worth more than $350bn

21 May 2017

The largest is a $109bn arms deal

Saudi Arabia and the US say they have signed deals worth more than $350bn as US President Donald Trump arrived in Riyadh on 20 May.

The largest deal is a $109bn arms deal, which includes suppliers such as Lockheed Martin providing integrated air and missile defence, space, combat ship, tactical aircraft and rotary wing technologies and programmes.

The US’ GE signed memorandum of understandings (MOUs) with clients and firms in the kingdom for projects worth a total of $15bn. The $15bn-worth of agreements will include $7bn of GE technology and products, across numerous sectors, including oil and gas, power and healthcare. The agreements cover schemes with the Saudi Ministry of Energy, Industry and Mineral Resources, state oil company Saudi Aramco, local mining company Maaden and Dussur (formerly Saudi Arabian Industrial Investments Company).

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