South Korea and Qatar Develop Investment Taskforce
The meetings are planned to occur two times year to discuss prospective investment projects. If a project has merit, the government of South Korea will allocate funds from its global infrastructure fund to be invested alongside the Qatar Investment Authority.
On October 20, 2012, Samsung Engineering Co., Ltd, the biggest engineering firm in Korea was awarded the Yanbu refinery expansion project from Luberef (Saudi Aramco Lubricating Oil Refining Company). It was a US$ 871 million deal. Luberef is a joint venture between Saudi Aramco (owns 70%) and Jadwa Industrial Investment Company (owns 30%).
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