- The Public Investment Fund at the Ministry of Finance represents the investment arm of the government, owns stakes in listed joint stock companies, and is the main supporter of economic development in the Kingdom through two main objectives defined by the Council of Ministers in 1391H and 1394H, the first is to finance investment in productive projects of a commercial nature wholly or partially owned by the state, and the second is to own and manage the government's share in industrial, agricultural, commercial and service companies established by the private or government sector by contributing to their capital, and its intervention mechanisms in financing projects in these sectors have varied from.<\/p>\n
Fund goals
\nThe fund aims to provide financing for some productive projects of a commercial nature, due to their great importance for the development of the Saudi economy, and the availability of the basic ingredients for their establishment, which the private sector cannot undertake on its own, either due to lack of experience or capital.<\/p>\n
The fund has a number of economic objectives and missions, as the fund specializes in financing investment in productive projects of a commercial nature, whether wholly or partially owned by the government, and a number of important economic sectors in the Kingdom have received funding from the Public Investment Fund, such as the establishment of petroleum refineries for refining, whether for local consumption or export, pipelines and storage depots, the transportation sector, including air transportation and financing the fleet of aircraft for passenger and freight transportation, maritime transportation, rail transportation, basic and downstream petrochemical industries and strategic projects funded by the Public Investment Fund.
\nFund contributions:
\nloans:
\nThe total loans disbursed by the Public Investment Fund until the end of the fiscal year 1431\/1432H amounted to SAR 120,244 million and included the following projects:
\n- Local refineries.
\n- Lubricant refineries and manufacturing plants.
\n- Storage depots for petroleum products.
\n- Crude oil and petroleum product distribution pipelines.
\n- Export refineries.
\n- Iron and steel factories.
\n- Mineral factories
\n- Fertilizer plants.
\n- Petrochemical plants.
\n- Purchase of airplanes for Saudi Arabian Airlines.
\n- Projects in the holy sites.
\n- Electricity and water projects.
\n- Railroad projects.
\nMajor contributions:<\/p>\n
The Fund has contributions in a number of national companies in a number of different sectors. The number of these companies at the end of the fiscal year 1431\/1432H amounted to (41) companies with a total amount of (63,249) million riyals, and these sectors included the following:
\n- Cement sector.
\n- Electricity sector.
\n- Water sector.
\n- Maritime and land transportation sector.
\n- The cooperative insurance sector.
\n- Agriculture and fisheries sector.
\n- The gas and petrochemical sector.
\n- Real estate and hotels.
\n- The health services sector.
\n- Education sector.
\nThe fund's ownership percentages for these companies range from 100% for companies not listed on the local stock market and 5% to 70% for companies listed on the stock market. The Tadawul website shows the fund's shareholding percentage for each of the companies it owns that are listed on the market.<\/p>\n
The Fund contributes on behalf of the Kingdom in several joint Arab companies. As of the end of the fiscal year 1431\/1432 AH, the number of companies in which the Fund contributed amounted to (27) joint Arab companies of various activities. The total value of the Fund's contributions in these companies amounted to (14,867) million riyals.<\/p>\n
Saudi Arabia's railway projects
\nIn implementation of the directives of the Custodian of the Two Holy Mosques to establish high-speed railways equipped with modern signaling and communication systems to provide a comfortable transportation service with the latest technology, the Fund provided financing for the implementation and operation of the railway project linking the north of the Kingdom with the center and east of the Kingdom to transport minerals, goods and passengers, as the line connects the northern region from Haditha and Hazm Al-Jalamid to Ras Al-Khair on the Arabian Gulf coast and from Haditha to Riyadh, passing through each of Al-Jawf, Hail and Qassim.
\nIn addition, the Fund was directed to finance the Haramain High Speed Rail project linking Medina, Jeddah and Makkah, and contracts were signed for the implementation of civil works, passenger stations and the second and final phase of this project with a value of up to (47.2 billion riyals).
\nKey Projects of the Fund
\nThe fund has contributed to financing and supporting a number of prominent governmental and semi-governmental projects, most notably:
\n- Saudi refineries.
\n- Lubricant refineries and manufacturing plants.
\n- Storage depots for petroleum products.
\n- Crude oil and petroleum products distribution pipelines.
\n- Export refineries.
\n- Iron and steel factories.
\n- Fertilizer plants.
\n- Petrochemical plants.
\n- Purchase of Saudi Arabian Airlines airplanes.
\n- Holy sites projects.
\n- Flag Company.
\n- The third is the business plan.
\n- Saudi Railways Company - SAR.<\/p>","protected":false},"excerpt":{"rendered":"
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