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A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016.
RIYADH- Saudi Aramco has signed several deals at the Future Investment Initiative conference in Riyadh, Saudi Arabian General Investment Authority (SAGIA) said in a statement on Tuesday.
It signed a $1 billion deal with Tubacex Group to invest in CRA pipe threading and weld overlay and cladding manufacturing facilities in the kingdom.
It reached an agreement worth $230 million with Baker Hughes on investment and development of artificial intelligence and digital transformation, the statement said.
Aramco signed a memorandum of understanding to form a joint venture with APQ valued at $600 million.
It also signed a $200 million deal with Dassault Systems aimed at collaborating on data analytics, project management and smart cities, SAGIA said.
(Reporting by Davide Barbuscia, writing by Nafisa Eltahir; editing by Jason Neely) ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))
