Al-Rumayyan, who has overseen the transformation of the PIF
from a small civil-service pension investor to a sovereign wealth fund with $320 billion of assets under management, is already on the board of Aramco.
Negotiations are continuing between the PIF
and SoftBank over the extent of the Saudi contribution to VF2.
This is the first joint program between PIF
and the Ministry of Education to cover the roofs of 500 schools in the West Bank with solar panels to produce electricity.
Crown prince Mohammed bin Salman could use the PIF
's resources to focus on domestic projects.
- In line with Vision 2030 and in order to achieve its objectives, it was important to review the role of the PIF
and transform it into a state sovereign fund.
They believe the Chinese government is also pressuring the PIF
secretariat, ABC reports.
Saudi Arabia's Public Investment Fund (PIF
) plans expansion overseas as well as invest within the country to diversify its economy, a top executive of the country's sovereign wealth fund said in Abu Dhabi.
Construction Week's video on PIF
investments in 2018 will be published at 9am Dubai time on 18 December, 2018.
said that it will establish a company to develop the project according to international practices regarding environmental conservation and sustainable development.
Legendary has not reportedly had any formal discussions with PIF
. Legendary's majority owner, China's Dalian Wanda Group, will reportedly be open to a deal, because it is under pressure to trim its debt, according to the report.
That is significant, because the Saudi's have a $3.5 billion (E3.02 billion) investment in Uber through the PIF
, so Khosrowshahi presumably has a major incentive to show up in Riyadh.
The transaction follows the Crown Prince Mohammed bin Salman's remarks that the PIF
will surpass its target of increasing its assets to $600 billion by 2020, part of a plan to reduce the economy's dependence on oil.