Saudi, US companies sign agreements worth $16 billion

By Fares Karam

RIYADH (AA) - Saudi Arabian and U.S. companies have signed 36 memorandums of understanding worth $16 billion, the official SPA news agency reported Tuesday.

The MoUs were signed in the framework of a business forum in New York and the CEOs of big companies from both countries and some Saudi officials took part, SPA said.

It added that the signing of the agreements coincided with Saudi Crown Prince Mohammed bin Salman's U.S. visit, but no additional information was provided.