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Saudi PIF, China ink renewables cooperation deal
(MENAFN) Saudi-based Public Investment Fund (PIF) and China penned a memorandum of understanding to join hands in the field of renewable energy.
Both sides signed the cooperation agreement while Saudi Crown Prince Mohammed bin Salman was in an official trip to Beijing.
SPA reported that it comes while Saudi Arabia is seeking to allocate some investments in renewable energy and turn it into a "leading global centre" for the market.
Through the deal, the Saudi fund will be allowed to endorse and boost manufacturing, power generation and emerging technologies in the upcoming decade.
Both sides signed the cooperation agreement while Saudi Crown Prince Mohammed bin Salman was in an official trip to Beijing.
SPA reported that it comes while Saudi Arabia is seeking to allocate some investments in renewable energy and turn it into a "leading global centre" for the market.
Through the deal, the Saudi fund will be allowed to endorse and boost manufacturing, power generation and emerging technologies in the upcoming decade.
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