Saudi seeks to attract $427 billion with industrial program

FILE PHOTO: Saudi Energy Minister Khalid al-Falih speaks during a news conference in Riyadh, Saudi Arabia
FILE PHOTO: Saudi Energy Minister Khalid al-Falih speaks during a news conference in Riyadh, Saudi Arabia January 9, 2019. REUTERS/Faisal Al Nasser/File Photo

January 26, 2019

RIYADH (Reuters) – Saudi Arabia aims to attract investment worth 1.6 trillion riyals ($427 billion) through a national industrial development and logistics program, Energy Minister Khalid al-Falih said on Saturday.

He said Saudi Arabia would announce projects in the program worth 70 billion riyals on Monday. He added that the program aimed to boost industry, mining, energy and logistics.

(Reporting by Marwa Rashad; Writing by Hesham Hajali; Editing by Edmund Blair)

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