Saudis prepare to invest $40 billion in U.S.

Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the U.S. The kingdom’s sovereign wealth fund is set to announce plans to deploy as much as $40 billion into U.S. infrastructure, according to people familiar with the matter.

Trump in March offered his support for developing a new U.S.-Saudi program in energy, industry, infrastructure and technology that could be valued at more than $200 billion in direct and indirect investments within the next four years, according to the White House.

Mohammad said this month that 50 percent to 70 percent of income from its initial public offering of Saudi Aramco would be used on domestic investments.

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Article source: http://www.dailystar.com.lb//Business/International/2017/May-13/405614-saudis-prepare-to-invest-40-billion-in-us.ashx