Saudi Public Investment Fund Invests 1.3 Billion Dollars in 4 Construction Companies
The investment is made by subscribing to new shares as part of the capital increases in the four construction companies, according to a statement from the PIF.
The investment will contribute to promoting the construction services sector and improving local supply chains for current and future projects in Saudi Arabia, said the statement.
The companies' partnerships with the fund will support their operations and businesses' regional and international expansion, according to the statement.
Yazeed A. Al-Humied, deputy governor and head of MENA Investments at the fund, said such partnerships demonstrate the fund's commitment to unlocking the capabilities of key strategic sectors in Saudi Arabia.
The investments and other activities and initiatives are part of the fund's mission to build strategic economic partnerships to achieve sustainable returns and unlock the capabilities of promising sectors with significant long-term growth potential.
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