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Russian companies mulling various projects in Saudi Arabia

Saudi companies are considering investments in Russia as well, says energy chief

Russia's Energy Minister Alexander Novak Alexander Shcherbak/TASS

Russia's Energy Minister Alexander Novak

© Alexander Shcherbak/TASS

MOSCOW, June 10. /TASS/. Russian companies may take part in the reconstruction and construction of waste treatment plants and some other projects in Saudi Arabia, Russia's Energy Minister Alexander Novak told reporters after a meeting of the Russian-Saudi intergovernmental commission on trade, economic, scientific and technical cooperation.

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"Basically, there are projects in different fields. Sibur (Russian petrochemical company - TASS) is considering the construction of a rubber production plant in Saudi Arabia. We are also thinking about participation of our companies in construction and reconstruction of waste treatment plants in Riyadh and Jeddah," the minister said.

According to him, Saudi companies are considering investments in Russia as well.

"In Russia, these will be construction sector, joint investments in gas chemical projects, ethanol production facilities, Saudi Aramco’s participation in natural gas liquefaction projects, and agricultural cooperation. I hope these projects will get some advancement this year in terms of signing specific agreements," he added.

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Alexander Novak

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