US President Trump’s visit to Saudi Arabia has been very fruitful. In addition to signing the $110 billion arms sales agreement that came into effect immediately, White House officials said that the value of US weapons sold to Saudi Arabia in the next decade could reach $350 billion.
In addition, the cooperation between the United States and Saudi Arabia in oil, infrastructure construction, and technology has also made progress.
Saudi Public Investment Fund (PIF) and US private equity giant Blackstone (29.87, 0.59, 2.02%) announced plans to set up a $40 billion infrastructure investment fund to invest primarily in US infrastructure projects. wood-based panel industry
PIF promises to inject $20 billion into the fund, and the remaining funds will come from other investors. Blackstone said that through this equity plus debt financing, the fund is expected to invest more than $100 billion in infrastructure projects in the future.
At the same time, Saudi state-owned oil company Saudi Aramco signed 16 agreements worth $50 billion with 11 US companies. The transaction will strengthen the company's corporate synergies with the United States and attract US counterparts to pave the way for Saudi investment. These include with JacobsEngineering, NationalOilwellVarco, General Electric (28.05, 0.57, 2.07%) (GE), Rowan, Nabors, McDermott, Honeywell (131.4, 0.98, 0.75%), Schlumberger, Halliburton, Weatherford, Baker Hughes (58.22, 1.09, 1.91%) and Emerson Electric (59.4, 0.95, 1.63%) signed or updated the agreement.
