The $5 billion funding for the new company is structured into debt and equity. Some $500 million have already been committed by partners who include The Savola Group, Dallah AlBaraka Holding Group, Asseer Company, AbdulKader AlMuhaidib & Sons Company, Hayel Saeed Group, Abdullatif Saoud Al Babutain & Bro. Co., Abu Dhabi Holding, Saudi Bin Laden Group, Gulf Power Company, and Swicorp Capital.
Sagia aims to leverage Saudi Arabia's competitive advantages in energy, transportation, information and communication technology as well as knowledge-based industries.
It has been setting up a number of sector-focused investment vehicles. The last such exercise took place on November 15, 2005 when a $100 million venture capital fund with Intel Capital was announced in Riyadh.
Sagia was instrumental in the establishment of the Swicorp Joussour Company, which further compliments its investment goals to create focused and sectored private equity offerings. Subsequently, it will liaise with the concerned Saudi government bodies to facilitate investments Joussour is bound to attract.
Leveraging Swicorp's in-depth regional knowledge, extensive network and regional contacts, Joussour will seek to invest in Saudi Arabia, primarily in midstream and downstream petrochemicals, energy-intensive industries, power generation and ancillary businesses to the oil & gas and petrochemicals sectors. Joussour is already considering 15 investment opportunities in the local market.
The Boston Consulting Group (BCG), a leading international strategy consulting firm, has been advising Swicorp in establishing Joussour's investment strategy.
The global petrochemicals sector is going through a substantial transformation. In recent years, there has been a significant surge in the international trade of petrochemical products with forecasts pointing to continued strong global demand, particularly in the Asia Pacific region led by China.
The performance will take place right before the match
Famous stars can generate equally strong admiration and repulsion from the public, especially if they comment on divisive issues
Abu Dhabi Police warn drivers of Dh50,000 penalty for serious violations that can get a vehicle impounded
Gulftainer continues to strengthen its role as a regional trade hub, collaborating with global partners for optimised supply chain efficiency
The FMAA certification will open new pathways for early career professionals while helping to strengthen and expand the profession’s talent pipeline
The Spaniard, a two-time major winner, is reportedly set to earn upwards of $566.4m as part of the deal
RTA distributed 450 child car seats to babies across 29 Dubai hospitals