Photo: APRiyadh/Washington: Saudi Arabia has signed a memorandum of understanding with SoftBank Group Corp. for a $200 billion solar power project in the kingdom, calling it the single largest of its kind in the world. It’s bold, risky and we hope we succeed doing that,” Prince Mohammed said late Tuesday night as he left a press briefing at the Plaza Hotel. SoftBank was said to be planning to invest as much as $25 billion in Saudi Arabia over the next three to four years. Prince Mohammed met last week with President Donald Trump, who welcomed him to the White House. The US and Saudi Arabia are developing an increasingly close partnership, encompassing everything from isolating Iran to bolstering business ties beyond energy into technology, defence and entertainment, according to top US and Saudi officials.

Source: Mint March 28, 2018 05:48 UTC