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Saudi Public Investment Fund to Invest $15 billion in Brazil

Brazilian Energy Minister Alexandre Silveira said that the Saudi Public Investment Fund intends to invest about $15 billion in Brazil, reported Al Arabiya.

The fund will invest in various areas, including green hydrogen, infrastructure and renewable energy.

Last April, a joint project between the Public Investment Fund and Maaden Company acquired 10% of the basic metals unit of the Brazilian company Vale.

Maaden is a subsidiary of the Public Investment Fund and is also a joint venture with the Brazilian food industry company BRF to manufacture poultry products in the United Kingdom.

One of the companies affiliated with the Public Investment Fund also has a joint venture with the Brazilian food industries company BRF to manufacture poultry products in the Kingdom.

Last November, Saudi Arabia’s Public Investment Fund (PIF) inked a partnership agreement with Brazil’s “Patria”. The deal, worth $1.2 billion, focuses on a Brazilian infrastructure project.

“This collaboration includes a 30-year concession for operating toll roads. This will be through capital investments from both PIF and Patria for investments,” said PIF.

Moreover, last year, Saudi Arabia’s premier low-cost carrier, Flynas, and Brazil’s innovative aerospace company, Eve Air, joined forces to introduce electric helicopters. This partnership is set to revolutionize urban mobility in the bustling Saudi cities of Riyadh and Jeddah by 2026.

One of the key objectives of this partnership is to enhance connectivity within Riyadh and Jeddah. By introducing electric helicopters as a mode of transport, residents and visitors alike will have a quicker and more convenient way to move around these bustling cities.

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