GE inks SAR 1 bln gas turbines deal with Dussur

General Electric (GE) signed a joint venture agreement on Wednesday worth SAR 1 billion with state-backed Saudi Arabian Industrial Investments Co. (Dussur) to manufacture gas turbines in Dammam, the companies said at a press conference in Riyadh.

Last year, GE and Dussur signed a memorandum of understanding (MoU) that is expected to result in about SAR 11.25 billion of investments in energy, aviation, digital and other sectors in 2017.

Meanwhile, GE had announced last week during U.S. President Donald Trump's visit to the Kingdom that it had signed deals worth $ 15 billion, including MoUs.

Dussur is owned by Saudi Arabian Public Investment Fund (PIF), Saudi Aramco and Saudi Basic Industries Corporation (SABIC).