Saudi Arabia, UK ink 18 business deals

Saudi Arabia and the United Kingdom have signed 18 business deals at the Saudi-UK CEO Forum during Crown Prince Mohammed bin Salman’s visit to London, Asharq Al Awsat newspaper reported.

Saudi Aramco signed three educational, training and leadership agreements with Chatham House, Imperial College London, and the Welding Institute.

The oil giant also signed deals with Shell and Varel International Energy Services.

Shell also signed an agreement in partnership with Saudi Arabia’s SABIC and UK’s Amec Foster Wheeler.

Saudi Arabia's General Investment Authority (SAGIA) also granted 10 licenses to British companies to conduct business in the kingdom.

In the healthcare sector, Safanad Saudi Arabia signed a deal worth £500 million with the British Court Cavendish Ltd to invest in UK’s healthcare centers for the elderly over the next five years. The Saudi firm also signed a £200 million agreement with Rimstock Limited in the British automotive industry.

In the real estate sector, an investment fund worth £100 million was set up to invest in British real estate.

The Saudi health ministry signed two agreements; the first was with Bupa to invest in healthcare centers in the Kingdom, while the second is with Babylon Partners on artificial intelligence in the healthcare sector.

In sports, Saudi Arabia’s General Sports Authority and King Abdullah Economic City inked an agreement with the European Golf Federation to host the World Golf Championship.