British companies eye major projects in Saudi Arabia

British companies are bracing themselves for a major trade and investment offensive over the next few weeks as Saudi Arabia seeks to raise a staggering $624 billion in foreign direct investment (FDI) over the next 14 years, of which some 37 percent is earmarked for the oil and gas industries; 30 percent for water and electricity projects; 26 percent for refining and petrochemicals; and 7 percent for transport, Kazinform cites The Arab News.