Saudi Arabia's Public Investment Fund considers investment in Jordan's infra projects
As per the Jordanian finance minister, these will be part of its $24 billion MENA investment push. The said attempt comes as a move to amplify regional economies.
Saudi Arabia’s sovereign wealth fund—Public Investment Fund (PIF)—on Tuesday said it is looking at potential investments in Jordan’s extensive infrastructure projects.
According to a report by The National News, the PIF is also exploring transport and logistics-related mega schemes.
As per Jordanian Finance Minister Mohamad al-Ississ, these will be part of its $24 billion MENA investment push. The said attempt comes as a move to amplify regional economies.
The finance minister also revealed that Jordan is seeking interest from the PIF and other GCC investors for a $2.5 billion renewable energy scheme, the report added.
This comes as an ongoing attempt by Saudi Arabia's Public Investment Fund to expand its overall asset portfolio. The fund has set up regional investment companies in Oman, Jordan, Bahrain, Sudan, and Iran.
The investments targeted by these six companies will focus on sectors, including infrastructure, mining, healthcare, technology, real estate, food, agriculture, and manufacturing.
As per Reuters, the PIF said, "The five new subsidiaries will contribute to an increase in regional investment opportunities for PIF's portfolio companies and Saudi Arabia's private sector, bolstering attractive financial returns over the long term, and creating more avenues for strategic economic collaboration with the private sector in the target countries and enabling the Saudi private sector."
Edited by Suman Singh