Saudi Aramco Signs 16 Pacts With 11 US Companies Valued at $50 Billion

Saudi Arabia welcomed U.S. President Donald Trump with agreements for deals worth tens of billions of dollars on Saturday as he embarked on his first state visit to the kingdom, which is undertaking unprecedented economic reforms.

Oil giant Saudi Aramco said it signed 16 accords with 11 companies valued at about $50 billion. One initial deal — worth $15 billion — was signed with General Electric Co. across the power, healthcare, oil, gas and mining industries. The U.S. and Saudi Ministry of Defense also negotiated a package totaling about $110 billion, according to a White House transcript on Friday.

“I can’t imagine another business day that’s been as good for the United States or for the kingdom,” U.S. Commerce Secretary Wilbur Ross said in the Saudi capital, dismissing concern that controversy engulfing Trump’s administration at home would impact his first overseas trip as president.

Honeywell International Inc., Nabros Industries Ltd.,

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