malaysiang
KUALA LUMPUR: Institutional investor to the global energy and infrastructure sectors, EIG, and Hassana Investment Company (Hassana), have signed a memorandum of understanding (MoU) to collaborate on infrastructure and energy transition projects in the Middle East.
According to BERNAMA News Agency, EIG has established a dedicated regional fund of US$1 billion in which Hassana is considering becoming an anchor investor with an allocation of up to US$250 million. The MoU was signed by EIG Chairman and Chief Executive Officer (CEO), R. Blair Thomas, and Hassana CEO, Saad bin Abdulmohsen Al-Fadly.
Thomas stated that the company believes energy transition is one of the defining investment themes of the next several decades, emphasizing the need for leading investors to collaborate in delivering a reliable, affordable, and sustainable energy system. He expressed anticipation in advancing the partnership with Hassana following their previous collaboration on the Pearl Pipelines project in Saudi Arabia.
Saad bin A
bdulmohsen Al-Fadly commented on the agreement, noting its reflection of a shared commitment to supporting the growth of infrastructure investments and facilitating energy transition within Saudi Arabia and the broader region.
The MoU highlights EIG’s and Hassana’s dedication to expanding their local and regional infrastructure and energy transition investment portfolios. This partnership aims to foster international investor participation and enhance foreign direct investment, aligning with Saudi Arabia’s Vision 2030 goals and the regional shift towards sustainable energy solutions.
