Saudi Aramco, Google's Alphabet in talks to build tech hub: report

03/02/2018 Argaam

 

Saudi Aramco and Google’s parent Alphabet Inc are in talks to jointly build a data technology hub in Saudi Arabia, the Wall Street Journal reported, citing sources familiar with the matter.

 

The two companies have discussed forming a joint venture that would build data centers around the Kingdom, sources said.

 

Details on how large the JV would stay unclear, however, it could be large enough to be listed in the Saudi stock exchange (Tadawul), sources added.

 

The deal could help Saudi Aramco expand into the United States, a goal for the oil company.

 

Alphabet's rivals Apple Inc and Amazon Inc are in licensing discussions with Riyadh on investing in Saudi Arabia as part of Crown Prince Mohammed bin Salman’s push to give the kingdom a high-tech look, according to a Reuters report in December.

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