Aramco signs slew of deals at Future Investment Initiative conference

RIYADH (Reuters) - Saudi Aramco has signed several deals at the Future Investment Initiative conference in Riyadh, Saudi Arabian General Investment Authority (SAGIA) said in a statement on Tuesday.

It signed a $1 billion deal with Tubacex Group to invest in CRA pipe threading and weld overlay and cladding manufacturing facilities in the kingdom.

It reached an agreement worth $230 million with Baker Hughes (NYSE: BKR) on investment and development of artificial intelligence and digital transformation, the statement said.

Aramco signed a memorandum of understanding to form a joint venture with APQ valued at $600 million.

It also signed a $200 million deal with Dassault Systems aimed at collaborating on data analytics, project management and smart cities, SAGIA said.

(Reporting by Davide Barbuscia, writing by Nafisa Eltahir; editing by Jason Neely)

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