Saudi Arabia said to invest $10 bln in South Africa with focus on energy

14/07/2018 Argaam

 

Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reported, citing Khusela Diko, the spokeswomen for South Africa’s president Cyril Ramaphosa.

 

The pledge was made by Crown Prince Mohammed bin Salman during Ramaphosa’s official visit to the Kingdom, she said on Thursday.

 

“Most of it will be in the energy sector - including building refineries, petrochemicals and renewable energy,” said Diko.

 

Detail on the projects will be revealed during an investment summit expected to be held this year, she added.

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