Minister of Investment: Saudi Arabia will pump $600 billion ‎investments into petrochemical sector

Engineer Khalid Al-Falih, Minister of Investment, revealed that the Kingdom will pump investments amounting to $600 billion into the petrochemical sector in the Kingdom by 2030, indicating that hydrogen is an important area of partnership between Saudi Arabia and Japan.

He announced in his speech during the Saudi-Japanese Investment Forum hosted by Riyadh that 14 agreements and memorandums of understanding will be announced between Saudi and Japanese entities and companies during the forum, indicating that the private sector is the most important bridge for cooperation between the two countries.

Al-Falih explained that Japanese banks have opportunities to finance major projects in Saudi Arabia, stressing that expected borrowing requests for projects in the Kingdom will reach $1.5 trillion.