GE Saudi Arabia Even as the International Monetary Fund (IMF) lent its backing to Saudi Arabia’s economic reform to diversify away from crude oil this week, General Electric (GE) accounted a series of deals with Saudi Arabia worth over US$1.4 billion to boost the kingdom’s manufacturing industry. Some US$1 billion worth of these deals are with the Saudi Arabian Industrial Investments Co., while around US$400 million is earmarked for a forging and casting manufacturing facility that will cater to the marine and energy industries. For this project, GE will be joining forces with Saudi state-owned oil giant Aramco. GE also signed a memorandum of understanding to invest US$1 billion jointly with a major Saudi entity into water and aviation, among other segments, by 2017, according to the Wall Street Journal . Related: The Biggest Winner Of The Oil Bust: Interview With Aeromexico GE has also intimated that there may […]