GOSI investments in 68 companies hit SR54bn

Updated 24 December 2014
0

GOSI investments in 68 companies hit SR54bn

Domestic investments of the General Organization for Social Insurance (GOSI) exceeded SR54 billion in 1434 covering nearly 68 companies, local media said quoting a report released by GOSI.
The investments were distributed in six sectors including banking, industry, retail and real estate, telecommunications, cement, and insurance sectors, the report said.
The banking sector captured the biggest portion of the GOSI investments valued at SR19.51 billion, or 35.9 percent of the overall investments, in over 10 banks. The GOSI retains more than 840 million shares of the banks with their market capitalization reaching SR41.70 billion, the report said.
The industrial sector captured the second largest GOSI investments at SR19.09 billion, or 35.1 percent, which are distributed in 14 industrial projects with shares over 673 million shares with their market capitalization estimated at SR42.96 billion, the report said.
Meanwhile, investments of the GOSI in the cement sector were estimated at SR 3.50 billion, or 6.5 percent, in six cement plants with 91 million shares with their market capitalization estimated at SR 8.42 billion.
The telecom sector captured 12.9 percent of the GOSI domestic investments valued at SR 7.03 billion in two companies having 231.3 million shares with their market capitalization valued at SR 14.52 billion, the report said.
Retail and real estate sector took 8.7 percent of the GOSI investments valued at SR 4.75 billion while their market capitalization hit SR 6.37 billion, the report said.
On the other hand, the insurance sector captured 9 percent of the GOSI investments valued at SR493.42 million in 22 million shares with their market capitalization reaching SR 489.43 million, according to the report.
In the meantime, the market capitalization of the GOSI investments (SR 54bn) grew by 111 percent to hit SR 114.48 billion, the report said.


Russia’s RDIF to boost investment deals in Saudi Arabia

Updated 17 January 2019
0

Russia’s RDIF to boost investment deals in Saudi Arabia

  • Fund's CEO Kirill Dmitriev leads a delegation of more than 20 Russian business figures to the Kingdom
  • The delegation discussed projects in oil refining, petrochemical, gas chemical and oilfield services

RIYADH: Russian sovereign wealth fund RDIF said on Wednesday it would significantly boost its investments deals with Saudi Arabia in 2019.

The fund’s CEO Kirill Dmitriev led a delegation of more than 20 Russian business figures to the Kingdom to discuss new projects.

Saudi Energy Minister Khalid Al-Falih met Dmitriev in Riyadh and expressed his happiness on the progress they made in the talks and the cooperation between the two countries. 

“Its not only commercial cooperation, but we are also working on scientific research, and we have opened a research center in Moscow University,” Al-Falih said.

The minister said the Russian delegation will also meet officials from Saudi Basic Industries Corporation SABIC and mining company Ma’aden among other companies during their three day visit to the Kingdom.

The delegation discussed projects in oil refining, petrochemical, gas chemical and oilfield services sectors, a Russian Direct Investment Fund statement said.

Al-Falih added that the Russian side has started a rubber plant project in Al-Jubail with Total and Novomet.

RDIF already has a $10 billion investment partnership with the Saudi Public Investment Fun (PIF), with more than $2 billion already invested in projects.

“We extend our cooperation not only on oil cuts but to cooperate in oil services, technology, LG and petrochemicals,” Dmitriev said. “We believe Saudi Aramco can be one of the greatest partners of Russia.”

The CEO said they were continuing to cooperate with PIF in Saudi Arabia through a number of energy investments.

Russian companies are also keen to invest in the Kingdom’s planned $500 billion mega-city NEOM.

“We have companies that have interest to invest in NEOM, we would like to build a port in NEOM, it can be a big port,” Dmitriev said.