RIYADH, Saudi Arabia -- As the Future Investment Initiative (FII) kicks off in Riyadh today, the Saudi Arabian General Investment Authority (SAGIA) announces the signing and exchange of 23 investment agreements, as part of the global investment platform’s agenda.

Totaling more than U.S. $15 billion in value, these agreements were exchanged by signatories in a dedicated ceremony held at the Ritz-Carlton hotel in Riyadh. Coordinated under Invest Saudi, these agreements reflect the enormous potential that Saudi Arabia offers to investors from across the Kingdom and around the world.

Agreements signed and exchanged at FII include:

A U.S. $50 million investment deal between SAGIA and Xylem, a US-based water technology company. Xylem aims to establish a manufacturing and service center in Saudi Arabia for water and wastewater pumps, which would generate 300 jobs locally.

A U.S. $50 million agreement between Aurora Motors and Alkhorayef Group intended to introduce leading edge irrigation machinery systems and well drilling equipment, while creating up to 1,000 local jobs.

To read the full story, click here.