Riyadh – Mubasher: Russian President Vladimir Putin announced that the Russian largest petrochemicals company, Sibur Holding, plans to build a petrochemical facility in Saudi Arabia with total investments worth $1 billion, according to an interview with Al Arabiya.
The announcement comes ahead of Putin’s visit on Monday to Saudi Arabia, the second since he came to power two decades ago.
“We consider Saudi Arabia a friendly nation. I have very good relations with both the King [Salman bin Abdulaziz] and the Crown Prince [Mohammed bin Salman],” Putin told Al Arabiya.
The Russian president noted that his visit will help to build up the momentum both in developing bilateral relations and enhancing cooperation in international organizations.
Moreover, the Russian Direct Investment Fund revealed that it will sign deals for more than $2 billion of Saudi investment in the agricultural, petrochemicals and other sectors during Putin’s visit.
