Saudi Aramco met with a military of Turkish contractors this week to debate $50 billion of potential initiatives within the Gulf kingdom, underlining bettering commerce ties between the 2 international locations after they buried a diplomatic spat over the killing of Jamal Khashoggi.
Representatives of the state-controlled oil agency met executives from about 80 constructing corporations in workshops within the Turkish capital Ankara on Tuesday and Wednesday, and are looking for to pre-qualify them for initiatives deliberate by way of 2025, Erdal Eren, head of the Turkish Contractors Affiliation, mentioned in a telephone interview.
“Aramco desires to see as many Turkish contractors as attainable in its initiatives,” Eren mentioned. “They’re planning refinery, pipeline, administration buildings and different infrastructure development that might be price $50 billion in funding.”
The corporate, the world’s third-most invaluable after Apple Inc and Microsoft Corp, will quickly draw up a listing of contractors that may take part in tenders for the initiatives, he mentioned, including that the 2 sides will meet once more quickly in Saudi Arabia.
“It is a lifeline for Turkish contractors, who’ve suffered rather a lot and misplaced enterprise from the struggle between Russia and Ukraine,” Eren mentioned. “Turkish government-backed funding initiatives have additionally been on the wane in recent times, particularly after the earthquakes,” he mentioned, referring to the February temblors that killed greater than 50,000 individuals in Turkey.
Aramco declined to remark.
Turkish President Recep Tayyip Erdogan, who was reelected to a 3rd time period final week, has promised to prioritize reconstruction of a few dozen cities that have been devastated by the quakes.
Erdogan and Saudi Crown Prince Mohammed Bin Salman agreed in June final yr to increase financial and protection ties, ending years of enmity over the 2018 killing of Washington Publish columnist Jamal Khashoggi by Saudi brokers within the kingdom’s Istanbul consulate. Turkey transferred the case to Saudi Arabia in April 2022.
–With help from Matthew Martin.