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US investments in Saudi reported to exceed $15bn

US investments in Saudi reported to exceed $15bn

SAGIA said that there are now 462 US investment facilities in the kingdom

The Saudi Arabian General Investment Authority (SAGIA) has announced that the amount of US investment facilities in the kingdom has increased to 462, with a total capital exceeding $15.1bn, according to local report.

Newspaper Al Eqtisadiah quoted a SAGIA statement, which noted that most of the US investments are in the industrial sector, where capital reached $11.8bn – making up almost 80 per cent of total US investments in the country.

The report added that Saudi Yanbu Petrochemical Company has the biggest share of US investments, to the tune of $5.2bn. Saudi Aramco Mobil Refinery Company Ltd has received $2.5bn.

SAGIA’s statement also said that 14 licenses were issued in 2017, with a total fund of $101.7m. These include licenses for global offshore contract driller RAWAN ($50m) and healthcare company TADAWI ($26m)

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