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Russia, Saudi Arabia may consider electricity JV

Russia may conclude a deal with Saudi Arabia in electricity industry, which implies a joint venture and equipment supplies construction

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Russian cooperation with Saudi Arabia in electricity industry may include creation of a joint venture and equipment supplies, Russian Energy Minister Alexander Novak has said.

“Cooperation in electricity industry implies various aspects: creation of ventures, equipment supplies, exchange of technologies and training of specialists,” Novak said.

Earlier on Sunday, Novak said that Russia positively assessed prospects of cooperation with Saudi Arabia in the nuclear sphere as well as on building a tanker fleet. Novak arrived in Saudi Arabia on Saturday on a two-day visit to meet his counterpart Khalid al Falih to discuss relations between the two nations, as well as cooperation with the Organization of the Petroleum Exporting Countries (OPEC) amid current situation in the oil market.

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