Saudi Arabia aims to attract investment worth SAR1.6 trillion (USD427bn) in the next decade through an industrial development programme aimed at diversifying the economy, Energy Minister Khalid Al Falih said on Saturday. Crown Prince Mohammad Bin Salman, who is behind Vision 2030 reform, will present details of the infrastructure plan on Monday. The kingdom could sign about 70 deals worth more than SAR200bn at the same time under the National Industrial Development and Logistics Program (NIDLP) to boost industry, mining, energy and logistics. Saudi Arabia will focus on chemicals, power and natural gas businesses in its industry plan, Al Falih said. The kingdom plans to restructure its power industry by separating its generation business from transmission and distribution. As part of the plan, the country will create a separate power purchasing agency, he said. At a later stage, it plans to announce projects in the military, chemicals and small businesses industries worth USD50bn, he added without giving a time frame. Transport Minister Nabeel Al Amudi told the press conference that NIDLP would launch 60 initiatives in the logistics sector, including five new airports and 2000km of railways.