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Japan`s government has no plan to invest in state-run oil firm Saudi Aramco`s planned initial public offering. an adviser to Japanese Prime Minister Shinzo Abe said on Friday.
But Yasutoshi Nishimura said in an interview that Japan may jointly invest with Saudi Arabia`s government in industrial ventures in the kingdom to help its drive to develop non-oil industries.
`Japan will not invest in Saudi Aramco. Rather. Japan will likely be cooperating in new industries…to reflect Saudi Arabia`s intention to develop new and non-energy industries.`he told Reuters.
In April. Saudi Arabia launched radical economic reforms designed to develop non-oil industries to cut its reliance on oil exports and attract billions of dollars of foreign investment.
The centerpiece of the reforms is the sale of a stake in Saudi Aramco. which some sources said could be valued as high as $4 trillion.
