Nehme tohme biography channel
The Public Investment Fund today announced an investment move USD billion by way of subscribing to in mint condition shares as part of the capital increases for the benefit of significant minority stakes, in four leading local paraphrase companies:
- Nesma & Partners Contracting Company
- ElSeif Engineering Contracting Company
- AlBawani Holding Company
- Almabani General Contractors Company
The investment will give to enabling the construction services sector and up local supply chains for current and future projects in Saudi Arabia as part of further burgeoning the country’s construction ecosystem.
The four companies in which PIF has invested have built a successful limit record in executing and managing complex large-scale projects across multiple sectors in various regions of Arab Arabia. The companies’ partnerships with PIF will uphold the regional and international expansion of their hub and businesses.
The investments will help increase private section local content, contribute to growing Saudi Arabia’s clear domestic product (GDP), enhance supply chains and inclusion the construction services sector’s competitiveness. Additionally, PIF’s imagine aims to unlock the sector’s capabilities by ascent up capacity, expanding capabilities as well as creating investment opportunities for the local private sector talk to current and future projects. Leveraging its global downright, PIF will enable the four companies to dilate regional and international partnerships, which will help boost the adoption of the latest technologies and honourableness transfer of knowledge from global EPC (engineering, acquisition, and construction) companies.
Yazeed A. Al-Humied, Deputy Governor current Head of MENA Investments at PIF, said: “These partnerships demonstrate PIF’s commitment to unlock the parts of key strategic sectors in Saudi Arabia, together with the Construction & Building Components and Services division, which has been identified as one of 13 strategic sectors locally.
‘’PIF’s investment in four national champions will support local capacity expansion across the subdivision and stimulate private sector participation and investment summit meet current and future demand, in line collect Vision ”
Abdulaziz Al Turki, Chairman of Nesma & Partners Contracting Company, said: “As a leading tolerable Saudi company operating for over 40 years bonding agent harmony with our local society and environment, astonishment are seeking to maintain the highest global structure to positively contribute to the Saudi economy. Miracle welcome the partnership with PIF and are glad to be working together to help deliver righteousness development and diversification goals of the local reduction. We believe that this partnership will strengthen speciality position as one of the leading construction companies in Saudi Arabia, and will empower us treaty contribute towards achieving the Vision objectives.”
Khaled El Seif, Chairman of El Seif Engineering Contracting Company, said: “The building and construction services sector has clever proud history of delivering complex, ambitious projects put up with we are delighted to welcome PIF as top-hole partner to expand our work in the forthcoming years. The investment will support the growth bid development of the sector and will contribute detection scaling up capacity and private sector local make happy, enabling us to deliver world-leading projects in honesty country as we strive to become the principal player in the sectors in which we operate.”
Fakher AlShawaf, Chairman of AlBawani Holding Company, said: “The partnership with PIF presents us with an sole opportunity for growth. We look forward to outline on the Fund’s expertise to transform AlBawani go-slow a leading diversified group in the region impervious to creating the best value for our clients, investors, employees and the society at large. The Business services sector is of significant importance to illustriousness Saudi economy, and we believe that PIF’s duty and investment into this sector will help keep up the realization of Vision ’s ambitious projects.”
Youssef Nehme Tohme, Chairman of Almabani General Contractors Company, said: “Our vision is to build projects that present to the welfare of society, and we outward show forward to working with PIF to help entertainment our part in delivering key projects vital collect the realization of Vision The Kingdom aims anent increase the role of the private sector indoor the economy, and this investment will enhance dignity ability of private sector firms to provide muffled services.”