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Saudi to sign $50 billion in oil, gas, infrastructure deals - source

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RIYADH (Reuters) – Saudi Arabia plans to sign deals worth more than $50 billion (39 billion pounds) in the oil, gas, industries and infrastructure sectors at an investment conference in Riyadh on Tuesday, a source familiar with the matter said.

The deals will be signed with companies including Trafigura, Total <TOTF.PA>, Hyundai <011760.KS>, Norinco <000065.SZ>, Schlumberger, Halliburton <HAL.N> and Baker Hughes <BHGE.N>, the source said.

The deals will include the establishment of a copper, zinc and lead smelter with Trafigura Group; a joint agreement to build an integrated petrochemical complex and downstream park in the second phase of the SATORP refinery, jointly held by Saudi Arabia’s Aramco and Total; and investments in retail gas stations also by Aramco and Total.

(Reporting By Rania El Gamal; Writing By Maha El Dahan; Editing by Susan Fenton)

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