Business
Saudi’s PIF founds Saudi-Iraqi investment company with $3 bln capital
Saudi Arabia’s Public Investment Fund has founded a Saudi-Iraqi investment company with $3 billion capital, Reuters reported on Thursday, citing the company’s acting CEO.
The Saudi-Iraqi Investment Company will invest in areas including infrastructure, mining, agriculture, real estate development and financial services, CEO Muteb Alshathri said during the Saudi-Iraqi Coordination Council held in the Kingdom.
More details about the company will be announced later on Thursday during the forum organized by the Council of Saudi Chambers in Jeddah, according to Al Arabiya.
For the latest headlines, follow our Google News channel online or via the app.
Last year in October, Crown Prince Mohammed bin Salman announced that the PIF established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman.
The companies, which the Crown Prince announced during the Future Investment Initiative summit in Riyadh, aim to develop and strengthen the PIF’s investment partnerships.
With Reuters
Read more:
Saudi Aramco appoints presidents for upstream and downstream businesses
Iturrioz leads at Saudi PIF-funded ladies golf tournament in Florida