Riyadh – Mubasher: Saudi Arabia and Russia on Thursday signed number of agreements, including an agreement of establishing a $1 billion fund to invest in technology sector.
The other agreements aim to collaborate in the fields of water desalination, energy conservation in air conditioners, and to allow Saudi Arabia to invest in the Russian toll roads.
Russia, Saudi Arabia-based the Public Investment (PIF), and Mubadala signed a partnership agreement to invest in the infrastructure, according to Al Arabiya channel.
The two parties signed memorandums of understanding (MoUs) to invest in the oil and technology sectors, and to implement cultural programme between the two nations.
The joint opportunities of investments include the agriculture, electronics, and energy sectors.
Sibur, Russia’s largest producer of petrochemicals and the Saudi Arabian Oil Co, known internationally as Saudi Aramco signed a deal to explore the available investment opportunities between the two countries.
