World

France expects deals worth tens of billions with Saudi Arabia in medium-term

  • French President Francois Hollande listens to Sabah al-Ahmad al-Jabir al-Sabahm Emir of Kuweit, during a meeting in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. (AP Photo/Christophe Ena, Pool)

    French President Francois Hollande listens to Sabah al-Ahmad al-Jabir al-Sabahm Emir of Kuweit, during a meeting in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. (AP Photo/Christophe Ena, Pool)  (The Associated Press)

  • French President Francois Hollande delivers a speech during a press conference in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. (AP Photo/Christophe Ena, Pool)

    French President Francois Hollande delivers a speech during a press conference in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. (AP Photo/Christophe Ena, Pool)  (The Associated Press)

  • French President Francois Hollande attends with Saudi Arabia’s King Salman, right, the Gulf cooperation council summit in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed.  (AP Photo/Christophe Ena, Pool)

    French President Francois Hollande attends with Saudi Arabia‚Äôs King Salman, right, the Gulf cooperation council summit in Riyadh, Saudi Arabia, Tuesday, May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. (AP Photo/Christophe Ena, Pool)  (The Associated Press)

French President Francois Hollande says the country is in talks with Saudi Arabia for business deals worth tens of billions of euros (dollars).

The amount is an estimate of the benefits expected by France "in the middle-term," Hollande said Tuesday at a press conference in Riyadh where he has attended a summit of Gulf Cooperation Council.

Hollande refused to provide detail on the deals but confirmed Foreign Minister Laurent Fabius' comments that there were about 20 projects including arms exports, solar power installations, civil aircraft, transportation and health.

Some of the deals will be formalized in October at a French-Saudi business forum, Hollande said.