Yasser Al-Rumayyan, Governor of the Saudi Public Investment Fund, announced that the fund may consider listing more shares in Saudi Aramco if the valuation is correct, and that the company is studying a massive program to liquidate assets .

According to Arabiyanet, Al-Rumayyan said: Saudi Aramco used to do everything on its own. It had its own airports, transportation fleets, and its own pipelines, now if it was It makes sense for us to get rid of some of these assets, we will certainly do so, it could include anything except major operations.

Al-Rumayyan, who is also the president of Aramco, added that the Public Investment Fund would need an additional cash injection from the government, but he insisted that this would only happen when it was done. Replenishment of central bank reserves, which have decreased to about $ 444 billion
In the middle of last year.

As part of its efforts to diversify the economy, the Public Investment Fund has established more than 30 local companies over the past three years, in sectors from defense to recycling of waste. It also oversees the development of 3 mega projects, namely NEOM, with investments exceeding 500 billion dollars, Qiddiya, a sports and entertainment complex with more than 15 billion dollars, and a tourism project on the Red Sea. It is expected to cost at least $ 10 billion.

health sector


The Saudi sovereign wealth fund seeks to use its financial strength to lure international health and technology companies to start their operations in the Kingdom, according to the fund’s governor in an extensive interview with the Financial Times.

He said that there are already discussions and discussions with a number of companies in the health sector, according to what Al-Arabiya.net has seen.

is in talks with the emerging electric car maker Lucid Motors, in which the fund invested $ 1.3 billion to acquire a 67% stake, to establish a manufacturing facility in the Kingdom, and a number of others Subsidiaries of Soft's Vision Fund
Bank.

Al-Rumayyan said: The next step is to proceed with their transfer to the kingdom.

Crown Prince Mohammed bin Salman has designated the Public Investment Fund as central to massive plans to modernize the kingdom and create new industries that reduce dependence on oil, with the goal of reaching a trillion dollars of assets under management By 2025.

local economy


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