PARIS: Saudi Aramco and the French oil giant Total signed an agreement on Tuesday to build a vast petrochemical complex in Jubail.
In total, $9 billion will be invested, creating 8,000 jobs in the Kingdom.
The deal was the highlight in a series of agreements between Saudi Arabia and France which rounded off a CEO business forum in Paris on the final day of Crown Prince Mohammed bin Salman’s official visit.
The two countries made agreements worth $18 billion, rubber-stamped by top representatives in a mammoth signing ceremony.
The final day of the crown prince’s visit shifted from building relations over culture and heritage, to business and finance. Accompanied by stirring music, business chiefs from several French companies mounted the stage for a theatrical exchange of documents in a building that once housed the national printworks but is now an offshoot of the French Foreign Ministry.
The crown prince met French Minister of Economy and Finance Bruno Le Maire, who was accompanied by a number of French businessmen.
They discussed enhancing partnership and investment opportunities, including attracting promising investments aimed to localize technology and training Saudi nationals, the Saudi Press Agency reported.
Fifteen memorandums of understanding (MoUs) were signed by Saudi and French companies at the CEO Business Forum. They included agreements between Saudi Arabia’s SABIC and France’s Schneider Electric on energy management, and SABIC and Orange on transfer of technology.
Al Arabia signed an investment agreement with multinational advertising giant JCDecaux; Axens, a global leader in converting oil, coal and natural gas to clean fuel, has struck a deal with Saudi refining and petrochemical company Petro Rabigh, and water management company Saur now has an agreement with a Saudi counterpart, International Aramoon Company Limited.
Saudi Aramco announced commercial cooperation worth a total of $12 billion with French firms.
These included deals with Veolia and Dussur for industrial wastewater treatment and a corporate purchase agreement signed with TechnipFMC for wellhead and surface-control equipment.
Several other agreements were also signed with Suez and Dussur, the Arab World Institute and the Pompidou Center.
“With Vision 2030, I believe there are more opportunities for collaboration and partnerships, not only in the oil and gas sector but also in infrastructure, manufacturing and services industries, which are critical to manage and operate an enterprise like Saudi Aramco,” said Aramco President and CEO Amin H. Nasser.
Meanwhile, Saudi Finance Minister Mohammed Al-Jadaan told AFP that Aramco’s hotly awaited stock market debut would be launched in 2018 if market conditions permit, otherwise in 2019.
“If the market is ready in 2018, we will go in 2018. If not, we will wait until 2019,” he said.
Saudi Energy Minister Khalid Al-Falih and French Foreign Minister Jean-Yves Le Drian inaugurated the CEO event, which was organized by the Saudi Center for Strategic Partnerships.
Le Drian highlighted 50 years of relations between Saudi Arabia and France and the importance of enhancing security, stability, energy, economy, science, culture and technology between the two countries.
He said France is the third biggest foreign investor in the Kingdom after the US and Kuwait, and that 80 French companies are operating in Saudi Arabia with more than 27,000 Saudi jobs, of which 20,000 are in the energy sector.
Saudi Aramco to build vast oil complex with Total
Saudi Aramco to build vast oil complex with Total
- Saudi Aramco announced commercial cooperation worth a total of $12 billion with French firms
- France is the third biggest foreign investor in the Kingdom
Related
Saudi Arabia designates 2026 the Year of Artificial Intelligence
- SDAIA unveils official logo after it was approved by the Cabinet
RIYADH: Saudi Arabia has designated 2026 as the Year of Artificial Intelligence, underscoring the Kingdom’s growing leadership in global AI adoption, and reaffirming AI as a top priority by supporting the nation’s AI ambitions in line with Saudi Vision 2030.
With the Kingdom emerging as a global hub for data and AI, driven by the support of Crown Prince Mohammed bin Salman, the move was underscored by the Saudi Cabinet’s approval on Tuesday.
The Saudi Data and Artificial Intelligence Authority, meanwhile, launched the official logo for the Year of Artificial Intelligence, Saudi Press Agency reported Wednesday.
The logo integrates symbolism in its elements: a palm tree signifies the national emblem and the Kingdom’s cultural heritage, while the letters “AI” highlight the technological and innovative aspects central to promoting digital inclusion as part of Vision 2030.
The palm tree’s green color symbolizes the Saudi flag and the Kingdom’s national identity, while the accompanying blue color represents digital technology and progression toward advanced technological development.
The logo is accompanied by the official hashtag for the Year of Artificial Intelligence: #SaudiAIYear.
Muhammad Khurram Khan, a professor of cybersecurity at King Saud University, told Arab News: “Saudi Arabia’s decision to designate 2026 as the Year of Artificial Intelligence represents a strategic milestone in the Kingdom’s digital transformation under Vision 2030.
“Over the past several years, SDAIA has successfully moved the national AI agenda from planning to large-scale implementation. The progress is visible in the Kingdom’s rapid rise in global AI rankings, its significant investment in emerging technologies, and the development of advanced infrastructure such as national data platforms and large-scale data centers,” he said.
The Kingdom ranked 14th in the 2025 Global AI Index and holds a leading position in the Arab world for AI model development.
Investment in the sector has grown significantly, with government spending on emerging technologies rising by more than 56 percent in 2024 and AI companies securing $9.1 billion in funding.
“The newly unveiled logo effectively reflects this vision. The logo thoughtfully blends Saudi Arabia’s heritage with its technological ambitions, reflecting the Kingdom’s forward-looking vision for a technology-driven future,” said the professor.
“What distinguishes Saudi Arabia’s approach is its holistic strategy. Rather than focusing solely on technology deployment, the Kingdom has invested heavily in talent development, regulatory frameworks, and ecosystem building. Training thousands of specialists and engaging more than a million participants through national AI initiatives demonstrates a long-term commitment to building a sustainable knowledge economy. Equally important is the Kingdom’s emphasis on responsible AI governance, reflected in its participation in international AI partnerships focused on ethics,” he added.
Welcoming the Cabinet’s decision to designate 2026 as the Year of Artificial Intelligence, Abdullah bin Sharaf Al-Ghamdi, SDAIA president, said on Tuesday the decision reflects the crown prince’s vision to strengthen the Kingdom’s global standing in advanced technologies.
He described it as an important step toward creating national momentum around innovation and the role of artificial intelligence in shaping a smarter and more sustainable future.
Since its establishment in 2019, SDAIA has led the National Strategy for Data and Artificial Intelligence, which focuses on six pillars: ambition, competencies, policies, investment, innovation, and ecosystem.
These efforts have moved the Kingdom from strategic planning to implementation, including regulating AI sectors and developing advanced digital infrastructure.
Infrastructure has expanded with the launch of the Shaheen III supercomputer and the Hexagon data center, the world’s largest government data facility with a capacity of 480 megawatts.
The Kingdom has also established a National Data Lake integrating more than 430 government systems.
Human capital development remains a priority. More than 11,000 specialists have been trained, and the SAMAI program has reached over one million participants.
Internationally, Saudi Arabia has strengthened its presence in the AI sector. It became the first Arab nation to join the Global Partnership on AI and hosts the UNESCO-sponsored International Center for Artificial Intelligence Research and Ethics in Riyadh.
These initiatives reflect the Kingdom’s commitment to the responsible and ethical use of artificial intelligence to support economic diversification and serve humanity globally.
