RIYADH, March 7 (Xinhua) -- Saudi Arabia has transferred 8 percent of the state-owned oil giant Saudi Aramco's shares to companies fully owned by the Public Investment Fund (PIF), as announced by Crown Prince Mohammed bin Salman Al Saud on Thursday. This transfer reduces the state's stake...
RIYADH, April 25 (Xinhua) -- Saudi Arabia announced on Thursday that the total assets managed by the Public Investment Fund (PIF) reached 2.81 trillion Saudi Riyals (about 749.2 billion U.S. dollars) in 2023, solidifying its role as a key driver of the kingdom's economic development. Acco...
Saudi Arabia’sPublic Investment Fund(PIF) has announced the establishment of the Saudi Facility Management Company (FMTECH) to offer a comprehensive range of services, including utilities management, energy management, waste management, maintenance, housekeeping, security, and landscaping service...
The PIF announced the signing of new agreements with three Chinese companies to localize in Saudi Arabia the manufacturing and assembly of equipment and components needed for solar and wind power, the fund said in a statement. The Renewable Energy Localization Company (RELC), a wholly-owned PIF ...
RIYADH: Aiming to accelerate the growth of the sports sector in Saudi Arabia and the Middle East and North Africa region, the Kingdom’s Public Investment Fund has established a new sports investment company. SRJ Sports Investments Co. will focus on acqu
Last month, the PIF launched Tasaru, a company dedicated to developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia. The fund has also made several other significant investments in the future mobility sector which includes the establishment of Saudi Arabia’...
Badael aims to address the negative impact that smoking has on the well-being of the Saudi population. The Company’s products are expected to help nearly one million people switch from smoking by 2032, representing approximately 25% of all smokers in Saudi Arabia. This has the potent...
PIF and Hyundai Motor Company recently announced a landmark $500 million JV to establish a state-of-the-art automotive manufacturing plant in Saudi Arabia. And the launch of Tasaru, the National Automotive and Mobility Investment Company, which is dedicated to localizing automotive sup...
Saudi Arabia:The Saudi Arabian Public Investment Fund(PIF)has completed its acquisition of a 23% stake in paper products company Mepco.Local press has reported that the PIF aims to enable Mepco to expand production,increase efficiency and become more sustainable.Global Gypsum Magazine Group...
The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe as well as the competitive advantages of itscities. It will seek to benefit fromthe natural beauty and diversity of Saudi Arabia’s terrain and culture to furthe...