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Italy, Saudi Arabia ink $10 billion cooperation and industrial deals

Italy and Saudi Arabia have signed a series of industrial cooperation deals worth 10 billion euros ($10.9 billion) during a visit by Italian Prime Minister Giorgia Meloni to Saudi Arabia. The agreements, aimed at enhancing economic ties, cover sectors like energy, infrastructure, and advanced manufacturing. Key deals include a partnership between Italian defense and aerospace company Leonardo and Saudi Arabian Military Industries for the development of a helicopter hub, and an agreement between Eni and Saudi Aramco to explore new energy solutions. These pacts are part of a broader strategy to diversify Saudi Arabia's economy away from oil under its Vision 2030 plan, while Italy seeks to strengthen its economic presence in the Middle East.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/italy-saudi-arabia-ink-10-billion-cooperation-industrial-deals-2025-01-26/ ]