BRIEF-Saudi Arabia signs $164 mln deal with China's Shen Gong New Materials

Jan 20 (Reuters) -

* Saudi Arabia's General Investment Authority has signed a $164 million memorandum of understanding with China's Shen Gong New Materials, it said on Twitter.

* The deal is to develop, in the first of three phases, an intelligence electronic manufacturing facility, it added. Source text for Eikon: (Reporting by Nayera Abdallah and Samar Hassan; Editing by Jan Harvey)