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Saudi Aramco inks deals with Korean companies

South Korean President Moon Jae-in went to Riyadh for a Saudi-Korean investment forum.

Saudi Arabia’s state-owned oil company signed agreements and memorandums with several South Korean entities today. 

Aramco, along with the Saudi Arabian Industrial Investments Co., entered into an agreement with South Korea’s Doosan Heavy Industries & Construction Co. The deal will establish a facility to produce industrial equipment for Saudi manufacturers, including pumps, drilling equipment, wind turbines and more. The joint venture has a planned production target of 60,000 tons per year, the official Saudi Press Agency reported. 

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