Saudi Arabia signs $3B deal with Bpifrance for power grid
Saudi Arabia and France signed several agreements to strengthen cooperation in the energy, industry, and electricity sectors, aiming to support joint investments and projects. The agreements included contracts valued at approximately $3.7 billion for the import of drilling materials and pipes related to oil and gas exploration, as well as a memorandum of understanding between Saudi Aramco France and other companies to develop artificial intelligence technologies and digital twins. Additionally, a support and financing agreement was signed, amounting to up to $3 billion, to modernize Saudi Arabia's electricity grid. A financing alliance was also established between the Saudi Export and Import Bank and international partners to fund the purchase of Airbus aircraft, with the goal of enhancing the Kingdom’s capabilities in international markets.
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