Arab Finance: The Saudi Arabian Public Investment Fund (PIF) is actively exploring the possibility of acquiring a stake in Egypt Gas Co, Al Mal News reported, citing unnamed sources familiar with the matter.
This move comes as part of PIF’s anticipated expansion plans in the Egyptian market.
During his meeting with the Egyptian Prime Minister Mostafa Madbouly in Riyadh last week, Saudi Crown Prince Mohammed bin Salman directed the PIF to inject $5 billion into Egypt as a first phase of investment.