Public Investment Fund
Country: Saudi Arabia
News and Updates
Saudi $5 billion investment firm eyes Europe, Asia, U.S.
Reuters states, "Saudi Arabia is exploring opportunities for investments in Europe, Asia and the United States in sectors including technology and auto parts for its new $5.3 billion investment company, its finance minister said. The company, Sanabil al-Saudia, has not yet started operations but its owner, the state's Public Investment Fund, is already eyeing possible acquisition targets, Ibrahim al-Assaf told Reuters in an interview in Oman. The Saudi government announced last year its intention to set up Sanabil with a mandate to invest in equities, bonds, real estate, foreign currencies and commodities in Saudi Arabia and abroad."
read more: Reuters
Saudi Binladin Wins North-South Railway Contract
USSABC states, "the joint venture of Saudi Binladin Group and Thales has been granted a $534 million (SR2 billion) contract by Saudi Arabia’s Public Investment Fund (PIF) for work on the North-South Railway Project (NSRP). The contract includes construction, infrastructure, and maintenance work for signaling and telecom networks over 994 to 1,118 miles of the railway line. The project is expected to begin in July and be completed in three years. Saudi Binladin Group is also working on a 358-mile stretch of track as part of the NSRP’s main construction package."
read more: U.S.-Saudi Arabian Business Council
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