Dec 14 2005 |
more articles from
|
Saudi Arabia: SAGIA, Swicorp Launch $5bn Consortium
RIYADH, 14 December 2005 -- The Saudi Arabian Investment Authority (SAGIA) and Swicorp, a premier Swiss-based private equity and investment banking firm in the Middle East and North Africa (MENA), announced yesterday a consortium to invest in energy-related projects worth $5 billion. The consortium will be known as Swicorp Joussour Company (Joussour).The $5 billion funding for the company is structured into debt and equity. An amount of $500 million has already been committed by partners who include: The Savola Group, Dallah AlBaraka Holding Group, Aseer Company, AbdulKader AlMuhaidib & Sons Co., Hayel Saeed Group, Abdullatif Saoud Al Babtain & Bro. Co ., Abu Dhabi Holding, Saudi Bin Laden Group, Gulf Power Company , and Swicorp Capital. SAGIA will liaise with the concerned Saudi authorities on the means to facilitate investments Joussour is bound to attract. The company has an in-depth regional knowledge and an extensive network, in addition to regional contacts. It seeks to invest in the Kingdom in midstream and downstream petrochemicals, energy-intensive industries, power generation and ancillary businesses to the oil and gas petrochemical sectors. Joussour is already considering 15 investment opportunities in the local market.
The Boston Consulting Group (BCG) is a leading international strategy consulting firm that will be working along with Joussour in establishing its investment strategy. It will be screening and structuring specific investment opportunities and providing access to its worldwide network of corporations
The president and managing director of Swicorp, Kamel Lazaar, commented on the signing by saying: "We are honored to have partnered with SAGIA to further this cause of mutual human asset development."
Al-Dabbagh marked the signing with a token gift honoring Swicorp's role in supporting SAGIA's programs.
By Raid Qusti
© Arab News 2005
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment