A worker leaves Aramco's Natural Gas Liquids plant in Saudi Arabia's remote Empty Quarter near the United Arab Emirates, on May 10, 2016.AFP / IAN TIMBERLAKE
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Saudi Arabia has hired consultants to advise on plans to create top global companies in industries from petrochemicals to telecommunications as it seeks to bolster its economy and reputation, according to people with knowledge of the matter.The kingdom has identified about five companies – including Saudi Arabian Oil Co., Saudi Basic Industries Corp. and Saudi Telecom Co. – that fit the profile, and has asked advisers to draw up policies that will boost their international competitiveness and profile, the people said, asking not to be identified as the plans aren't public.As part of plans to make local companies more competitive, Saudi Arabia is weighing plans to reshuffle assets held by companies including Sabic, Aramco and Saudi Arabian Mining Co., or Maaden, to reduce overlap between firms and help them focus on their core business, the people said.
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