GE signs $15B of Saudi deals, MoUs during Trump visit

RIYADH: (GE) said it signed agreements and memorandums of understanding worth $15 bil President Donald Trump’s visit to the oil-rich kingdom.

agreements were inked in the presence of

and solutions -- across multiple sectors and partners aimed at creating a truly diverse statement said.

This includes building an additional capacity to generate up to 12 gigawatts of power.

GE also signed an MoU with oil giant - statement said.

The MoU aims to generate $4 billion in

Riyadh has moved to diversify its traditionally oil-dependent economy following the sharp fall in crude prices in 2014.

plan aimed at developing its industrial and investment base and boosting small- and medium-sized businesses in a bid to create oil revenue.