Saudi Arabia’s sovereign wealth fund has invested a total of $1.3 billion in four local construction companies, as part of the fund’s capital increase initiatives.
The Public Investment Fund (PIF) has acquired stakes in Nesma & Partners Contracting Co., El Seif Engineering Contracting Co., AlBawani Holding Co., and Almabani General Contractors Co.
These new transactions are part of PIF’s strategy to support and enable key strategic sectors in Saudi Arabia, in line with the goals outlined in Vision 2030.
PIF’s investments are also expected to help these companies expand their operations and businesses beyond Saudi Arabia.
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