Factbox: Major Saudi Arabian non-oil deals since 2016

OCI Holdings

29/10/2019 14:15

(Adds agreements signed at FII 2019)
    Oct 29 (Reuters) - Saudi Arabia has tried to attract foreign
capital into its non-oil sector and pursue investments abroad as
part of Vision 2030, an ambitious plan to diversify its
crude-reliant economy. 
    The following are some of the key non-oil deals struck by
Saudi Arabia since the plan was announced in 2016, starting with
the deals announced at the third Future Investment Initiative
(FII) annual conference, held in October 2019.  urn:newsml:reuters.com:*:nL8N27E255
    
    Deals signed at FII 2019:
    * Saudi Arabian General Investment Authority (SAGIA) signs a
$700 million investment deal with Modular Middle East, a
prefabricated building solutions company, aimed at localizing
its supply chain and developing its manufacturing facilities in
Saudi Arabia.
    * SAGIA signs a $300 million investment deal with ForDeal, a
China-based online shopping platform, to establish a regional
distribution hub and localize their operations in Saudi Arabia. 
    * SAGIA signs a $200 million agreement with London-based
Shiloh Minerals which aims to develop its local production
capacity, as well as invest in potential upstream mining
opportunities in Saudi Arabia.
    * SAGIA signs a $120 million investment deal with BRF Brazil
Foods which plans to develop its local production capabilities
in Saudi Arabia. 
    * SAGIA signs a $110 million investment deal with KME which
plans to expand its manufacturing capacity into Saudi Arabia.
    * SAGIA signs a $50 million investment deal with U.S.-based
water technology company Xylem which aims to establish a
manufacturing and service center in Saudi Arabia for water and
wastewater pumps, which would generate 300 jobs locally.
    * Saudi Basic Industries Corp (SABIC) signs a $50 million
agreement with Baker Hughes to develop local capacity, creating
downstream business opportunities and industry diversification.
    * Industrial Clusters signs a memorandum of understanding
(MOU) with Eurofarma to conduct a feasibility study with the aim
of investing up to $110 million to develop local pharmaceutical
production capacity.
    * Industrial Clusters signs a MOU with AERIS to conduct a
feasibility study with the aim of investing up to $100 million
to develop sustainable wind energy capabilities in Saudi Arabia.
    * Industrial Clusters signs a MOU with Instituto Butantan to
conduct a feasibility study with the aim of investing up to $250
million to develop local vaccine production.
    * Saudi Agricultural and Livestock Investment Co (SALIC)
signs a $17.5 million deal with LT Foods/DAAWAT for investments
in agricultural and livestock production.
    * Saudi utilities developer ACWA Power signs a MOU with Air
Products and Chemicals Inc to develop the $11.45 billion Air
Product Qudra project.
    * Saudi Aramco signs a MOU with APQ to form a joint-venture
valued at $600 million.
    * Saudi Aramco signs a $110 deal with AKER SAS, a Norwegian
holding company engaged in offshore fishing, construction and
engineering.
    * Saudi Aramco signs a $200 million deal with Dassault
Systems to collaborate across areas including data analytics,
project management and smart cities.
    *  Saudi Aramco signs a $230 agreement with Baker Hughes
around co-investment and co-development for artificial
intelligence and digital transformation.
    * Saudi Aramco signs a $74 million agreement with BMT to
establish a fittings and valves manufacturing facility in Saudi
Arabia.
    * Saudi Aramco signs a $25 million deal with Pultron to
invest in developing manufacturing facilities in Saudi Arabia
that will produce high-performance glass fiber-reinforced
polymer (GFRP) pultrusion products.
    * Saudi Aramco signs a $1 billion deal with Tubacex Group
which aims to invest in CRA pipe threading and weld overlay, and
cladding manufacturing facilities in the Kingdom.
    
    Prior to FII 2019:    
    * October 2019: A subsidiary of Saudi Arabia's sovereign
Public Investment Fund (PIF) acquires 49% of consulting firm
Richard Attias & Associates (RAA), previously thought to be
worth tens of millions of British pounds.  urn:newsml:reuters.com:*:nL5N26R0CO
    * April 2019: PIF invests over $1 billion in U.S. electric
carmaker Lucid Motors.  urn:newsml:reuters.com:*:nFWN21L0JM
    * January 2019: A Saudi official says the kingdom plans to
develop a $2 billion solar and carbon black integrated complex
in partnership with China's Longi and South Korea's OCI
 010060.KS .
    * October 2018: The second FII conference is overshadowed by
the Khashoggi's murder but Riyadh signs $56 billion of deals,
although state oil giant Saudi Aramco clinched the majority.
    * August 2018: PIF builds up an undisclosed stake of just
below 5% in U.S. electric car maker Tesla  TSLA.O , Reuters
reports.  urn:newsml:reuters.com:*:nL4N1V44RS
    * May 2018: PIF partners with others to acquire a 57.8%
stake in AccorInvest, a French hotel real estate firm, for $5.33
billion. The size of PIF's stake was not disclosed.
    * April 2018: PIF announces an agreement with U.S. amusement
park operator Six Flags  SIX.N  to open a theme park in Qiddiya
entertainment city by 2022. No financial details were disclosed.
    * March 2018: SoftBank and the kingdom agree to build the
world's biggest solar power generation company, expected to
provide 200 gigawatts of power. 
    * March 2018: PIF signs an MOU with Endeavor, one of
Hollywood's biggest talent and event managers, to take a $400
million stake. Endeavor pulled out after Khashoggi's murder.
    * March 2018: PIF invests $461 million in Magic Leap, a
U.S.-based augmented reality startup.
    * December 2017: PIF signs a memorandum of understanding
(MOU) with U.S.-based movie exhibition company AMC Entertainment
Holdings  AMC.N  to set up theaters in Saudi Arabia. The company
said in April that the plan was going ahead.  urn:newsml:reuters.com:*:nL1N21K02U
    * October 2017: At the inaugural Future Investment
Initiative (FII), PIF announces plans to invest $1 billion in
British billionaire Richard Branson's space firm Virgin Galactic
and sister companies The Spaceship Company and Virgin Orbit. 
    Branson last year halted talks on the Saudi investment after
the murder of Khashoggi.  urn:newsml:reuters.com:*:nL8N1WR6UA
    * May 2017: GE  GE.N  signs $15 billion in business deals
with Saudi Arabia in a range of industries including oil and
gas, mining, and healthcare.
    * May 2017: PIF signs an MOU with U.S. private equity firm
Blackstone  BX.N , committing up to $20 billion to a $40 billion
fund focused on U.S. infrastructure.
    * May 2017: PIF pledges $45 billion to the $100 billion
SoftBank Vision Fund, a technology-focused investment fund
created along with Japan's SoftBank Group  9984.T . SoftBank's
chief executive said this year that Riyadh had shown interest in
investing in a second Vision Fund.  urn:newsml:reuters.com:*:nL4N24R04Q  urn:newsml:reuters.com:*:nL4N25326Z
    * November 2016: PIF plans to buy a 50% stake in Gulf-based
Adeptio, which controls Kuwait Food Co (Americana), in a deal
worth $2 billion, Reuters reports. No information has been
publicly disclosed about the deal.
    * November 2016: PIF invests $500 in Middle Eastern
e-commerce venture Noon.com.
    * June 2016: PIF acquires a 5% stake in Uber  UBER.N  worth
$3.5 billion in the fund's first major investment in what is
widely seen as its new tech-focused strategy. 
    * April 2016: PIF signs a deal with Egypt to create a $16
billion investment fund. The size of PIF's investment was not
disclosed.

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Saudi Arabia faces reality check as Wall Street heads to Riyadh 
   urn:newsml:reuters.com:*:nL5N2792WW
FACTBOX-Saudi Arabia's key economic and social reforms   
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 (Compiled by Nafisa Eltahir and Tuqa Khalid; editing by David
Clarke)
 ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))