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Saudi Arabia’s Public Investment Fund has agreed to acquire a 10% stake in the United Kingdom’s Heathrow Airport from its holding company, TOPCO. This strategic move is part of PIF’s broader investment strategy to expand its influence in the global aviation sector as well as boost Saudi tourism globally.
Saudi Arabia unveils plans for Falcon’s Flight, the world’s fastest, longest, and tallest rollercoaster to be located at Six Flags Qiddiya near Riyadh.
The rollercoaster aims to break world records with a speed of 250kmph and a drop of 640 feet.
Saudi Arabia’s Aramco has discovered two new natural gas fields in the Empty Quarter.
The first discovery was at the Hanifa reservoir where gas was found to flow at 30 million standard cubic feet per day. This discovery is likely to boost the country’s efforts to increase gas production significantly by 2030
Riyadh Air, Saudi Arabia’s newest airline which is fully owned by the Public Investment Fund, has partnered with Lucid Motors.
The partnership emphasizes their shared commitment to innovation and sustainability in the fields of aviation and electric vehicle production.
Saudi Arabia’s Public Investment Fund has acquired a 25% stake in Alkhorayef Petroleum which has an important role in the region’s oil and gas production. The acquisition is part of the PIF efforts to deepen the manufacturing sector in Saudi Arabia and support the delivery of Vision 2030.
Saudi Arabia’s PIF has raised its stake in the British Luxury Car maker Aston Martin to 20.5% via Lucid Motors, boosting its economic diversification efforts and supporting Aston Martin to produce high-performance electric vehicles from 2025.
Saudi Arabia is enhancing its electric vehicle infrastructure with the launch of EVIQ, a new brand under the Electric Vehicle Infrastructure Co.
Saudi Arabia is investing to expand its aviation sector, with $50 billion allocated for the new King Salman International Airport in Riyadh. The Kingdom aims to connect to 250 destinations worldwide and increase annual passenger traffic to 330 million by 2030.
Saudi Arabia’s flagship mining company, Ma’aden, which is 67% opened by the Public Investment fund, is exploring lithium extraction from seawater to secure a supply of electric vehicle batteries to help support the new automotive industry.
Cruise Saudi has renewed its partnership with Discover Saudi. Cruise Saudi aims to welcome 1.3 million cruise visitors to Saudi Arabia by 2035 and provide 50,000 direct and indirect jobs whilst supporting Saudi’s Arabias Vision 2030.
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