Riyadh – Mubasher: Saudi Crown Prince Mohammed bin Salman launched on Monday the new programme to develop the national industry and logistics services.
Bin Salman, the architect of reform proposals intended to wean the economy off its dependence on oil revenue and state handouts, witnessed the signing of 37 contracts in the logistics services and manufacturing industry sectors.
The major deal was signed between the state-owned Saudi Arabian Oil Co, known internationally as Saudi Aramco, and Saudi Basic Industries (SABIC) to implement a crude-into-petrochemical project.
On a related note, Saudi energy minister Khalid Al-Falih stated on Monday that the kingdom will ink SAR 235 billion deals as part of the local industry programme.
On Sunday, Saudi Arabia stated that it would start a SAR 200 billion programme on Monday to develop the national industry and services.
