Saudi-French partnership in energy and industry
On the sidelines of Crown Prince Mohammed bin Salman's visit to France, the Kingdom of Saudi Arabia and France signed several agreements and memoranda of understanding to enhance economic and investment cooperation between the two countries. The agreements included contracts worth approximately $3.7 billion for the purchase of drilling materials and pipes from Aramco and Vallourec, as well as a memorandum of understanding between Aramco Digital and Dassault Systèmes to collaborate in the fields of artificial intelligence and digital technologies. Additionally, a financing agreement and modernization of the Saudi electricity grid were signed with the French bank Bpifrance, amounting to up to $3 billion, along with a tripartite memorandum of understanding for the financing of Saudi Arabia's acquisition of Airbus aircraft, and efforts to strengthen the role of the Saudi Export-Import Bank in providing insurance coverage for international projects.
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