Saudi Arabia looking for $25 billion investment in gas project
Saudi Arabia is looking for investments up to $25 billion to see through a gas project in the south of the country, economic daily al-Iqdissadiya reported Wednesday.
"The volume of investment needed for the gas project in the Jawaher area of southern Saudi Arabia amounts to some $25 billion," the paper said, adding that an agreement on exploiting gas reserves would be reached with international companies in April.
According to the paper, Riyadh will be studying with seven international firms "ways of developing the gas field in the Jawaher region in the Rub al-Khali area" to the south of the country.
It says it is one of three major gas projects in southern Saudi Arabia, with another in the Red Sea area and a third in the Shaybah area.
The specialist economic review, the Middle East Economic Survey (MEES), said Monday that Riyadh is due to reach terms by April 1 with the companies interested in its $100-billion investment programme. –AFP.
©--Agence France Presse 2001.
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