SAUDI ARABIA

Agreement for Saudi Aircraft Plant 

An aircraft overhauling plant is to be set up in Saudi Arabia under an agreement signed last week between Boeing of the US, Saudi Arabian Airlines, the National Industrialization Company (NIC) of Saudi Arabia, and the GCC-owned Gulf Investment Corporation. The plant, which will require an investment of more than SR480mn ($131mn), is part of the "offset program" under which Boeing and other US participants in a large Saudi...