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Saudi Arabia to invest about $266bn for clean energy – Minister

Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Saudi Arabia on November 10, 2021 in Glasgow, Scotland. [Ian Forsyth/Getty Images]
Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud [Ian Forsyth/Getty Images]

Saudi Arabia will invest up to one trillion riyals ($266.40 billion) to generate "cleaner energy", Saudi state TV reported on Monday, citing the Kingdom's Energy Minister, Reuters report.

According to the report, Minister Prince Abdulaziz bin Salman, said that the investments aim also to "add transport lines and distribution networks in order to eventually export the energy to the world and produce clean hydrogen".

The Minister also stressed the ongoing work to significantly increase oil and gas supplies and double the main gas network.

He highlighted the acceleration of the work of liquids-to-chemicals conversion facilities to increase the raw materials for petrochemicals.

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