State-owned Saudi Aramco is planning to set up a construction company in partnership with local and international investors to build non-oil infrastructure in Saudi Arabia, Reuters reported, citing sources familiar with the matter. Local companies Nesma & Partners, Al Rashid Trading & Contracting Co., Azmeel Contracting, El Seif Engineering, in addition to international groups, including Turkey’s Tekfen and South Korea’s Posco, Daewoo and Samsung C&T have all expressed interest in the new construction venture. The Public Investment Fund (PIF) is expected to be part of the newly-created company, which will eventually have thousands of employees, sources said. Aramco aims to enter sectors beyond oil as it plays a key role in the government plan to diversify the economy, as it is also creating a multi-billion dollar shipbuilding complex and plans an industrial city for energy-related businesses. The oil giant plans to list about 5% of its shares in local and international stock markets next year, and establishing an independent company to handle construction could make this process easier by spinning off a business unrelated to the parent’s core oil business.