Saudi Aramco signs $10.4 bln worth of MOUs to boost manufacturing

Saudi Aramco signed MoUs on Wednesday to promote local manufacturing. (Reuters)

Saudi Aramco signed on Wednesday agreements with foreign and local companies worth at least 39 billion riyals ($10.4 billion).

The bulk of the memorandum of understanding agreements were part of a drive to promote local manufacturing, the company said.

One agreement was also signed with drilling and oil service company Schlumberger worth 6 billion riyals.

Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50